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Current as of January 01, 2024 | Updated by Findlaw Staff
(1) There is a capital reserve account in the enterprise fund provided for in 90-7-202(17).
(2) The authority shall deposit into the capital reserve account:
(a) funds from state appropriations received for deposit into the account, as provided in 90-7-319, for bonds issued to finance capital projects for community health facilities that contract with the state to provide health care services, bonds issued to finance the facilities described in 90-7-220 and 90-7-221, or bonds used to finance prerelease centers that contract with the state; and
(b) proceeds from the sale of bonds or notes to the extent provided in the resolutions or indentures of the authority authorizing their issuance.
(3) The authority may also deposit into the capital reserve account:
(a) revenue from fees and charges imposed by the authority;
(b) income from the investment of funds belonging to the authority; and
(c) any other funds that may be available to the authority for the purpose of the account from any other source, including loans authorized under 90-7-320.
Cite this article: FindLaw.com - Montana Title 90. Planning, Research, and Development § 90-7-317. Capital reserve account - last updated January 01, 2024 | https://codes.findlaw.com/mt/title-90-planning-research-and-development/mt-st-90-7-317/
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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