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Current as of January 01, 2024 | Updated by FindLaw Staff
If the trustees conduct a public sale, at any time after the date of the election certificate, the trustees shall adopt a resolution calling for the sale of bonds of the school district. The resolution must specify:
(1) the number of series or installments in which the bonds are to be issued;
(2) the amount of bonds to be issued;
(3) the minimum purchase price of the bonds;
(4) the purpose or purposes of the issue;
(5) the date that the issue will bear;
(6) the period of time through which the issue will be paid;
(7) the manner of execution of the bonds;
(8) whether bids will be accepted for either serial or amortization bonds and, if so, the denomination of serial or amortization bonds;
(9) the date and time that the sale of the bonds must be conducted; and
(10) the minimum price fixed by the board of trustees for the bonds, which may not be less than 97% of the principal amount of the bonds if the board determines that the sale is in the best interests of the district.
Cite this article: FindLaw.com - Montana Title 20. Education § 20-9-429. Trustees' resolution to issue school district bonds pursuant to public sale - last updated January 01, 2024 | https://codes.findlaw.com/mt/title-20-education/mt-code-ann-sect-20-9-429/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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