17-5-1602. Policy and purpose.
172 words·~1 min read·
/mt/title-17/chapter-5/part-16/17-5-1602·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
17-5-1602 . Policy and purpose.
(1)It is the policy of the state of Montana to:
(a)foster and promote, by all reasonable means, the provision of efficient capital markets and facilities for borrowing money by eligible government units to pay for capital improvements and other needs as otherwise authorized by law; and
(b)reduce, to the extent possible, costs of public indebtedness to taxpayers and residents by affording public bodies an appropriate degree of flexibility and choice in the marketing of their debt securities so as to minimize marketing costs and interest rates.
(2)It is the purpose of this part to promote the policies stated in subsection
(1)by:
(a)creating a means for eligible government units to pool, in effect, the debt instruments they are otherwise authorized to offer for sale to the investment community in order to obtain economies of scale and reduce marketing and interest costs; and
(b)providing additional security for the payment of bonds and notes held by investors and thereby further reducing interest costs.