7-12-4247. Details relating to bonds.
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/mt/title-7/chapter-12/part-42/7-12-4247·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
7-12-4247 . Details relating to bonds.
(1)The bonds may mature at one time, not exceeding the maximum maturity of the assessments to be levied for the improvement, or may mature in installments at various times during the term of the assessments, but the bonds may not mature later than 10 years from the date of issuance.
(2)The bonds, as the council shall determine, are subject to redemption prior to maturity and may be payable at any suitable bank or trust company either within or without the state of Montana.
(3)The bonds issued under 7-12-4241 through 7-12-4258 shall be in substantially the form provided in 7-12-4201 and 7-12-4203 , as modified by the provisions of 7-12-4241 through 7-12-4258 .