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Current as of January 01, 2024 | Updated by Findlaw Staff
In connection with the issuance of bonds or the incurring of any obligation under a lease and in order to secure the payment of the bonds or obligations, the authority may:
(1) vest in a trustee the right to enforce any covenant made to secure the payment of the bonds or obligations;
(2) provide for the powers and duties of the trustee and limit the trustee's liabilities; and
(3) provide the terms and conditions upon which the trustee or a designated proportion of the holders of bonds may enforce any covenant.
Cite this article: FindLaw.com - Montana Title 7. Local Government § 7-15-4528. Use of bond trustee - last updated January 01, 2024 | https://codes.findlaw.com/mt/title-7-local-government/mt-st-7-15-4528/
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 before relying on it for your legal needs.
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