Terms Used In Montana Code > Title 17 > Chapter 5 > Part 8 - General Obligation Bonds and Notes

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Board: means the board of examiners provided for in 2-15-1007. See Montana Code 17-5-801
• Bond act: means an act approved by the vote of two-thirds of the members of each house of the legislature or by a majority of the electors voting thereon, authorizing the issuance of bonds for the purpose set forth therein and adopting this part by reference. See Montana Code 17-5-801
• Bonds: means general obligation bonds, notes, or other evidences of indebtedness issued in accordance with the provisions of this part. See Montana Code 17-5-801
• Capital projects account: means a separate general obligation bond and note account created within the capital projects fund type established in 17-2-102. See Montana Code 17-5-801
• Costs: includes those expenses related to acquiring land; planning, design, and construction of capital projects and of buildings as defined in 18-2-101; or any other administrative expenses of the department, including legal fees, incurred in the performance of its duties under Title 18, chapter 2. See Montana Code 17-5-801
• Debt service account: means a separate general obligation bond and note account created within the debt service fund type established in 17-2-102. See Montana Code 17-5-801
• Department: means the department of administration created in 2-15-1001. See Montana Code 17-5-801
• Ex officio: Literally, by virtue of one's office.
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• Legislative session: That part of a chamber's daily session in which it considers legislative business (bills, resolutions, and actions related thereto).
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
• Printing: means the act of reproducing a design on a surface by any process. See Montana Code 1-1-203
• Property: means real and personal property. See Montana Code 1-1-205
• State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Montana Code 1-1-201
• Statute: A law passed by a legislature.
• Treasurer: means the ex officio state treasurer, referred to in 2-15-1002. See Montana Code 17-5-801