Montana § 7-15-4503 - Nature Of Bonded Indebtedness
Full text of Montana Montana Code Annotated § 7-15-4503 — Nature Of Bonded Indebtedness, with citation guidance and answers to common questions.
§ 7-15-4503. Nature Of Bonded Indebtedness
Nature of bonded indebtedness. (1) Neither the commissioners of the authority nor any person executing the bonds shall be liable personally on the bonds by reason of the issuance thereof. (2) The bonds and other obligations of the authority (and such bonds and obligations shall so state on their face) shall not be a debt of any city or municipality located within its boundaries or of the state, and neither the state nor any such city or municipality shall be liable thereon, nor in any event shall they be payable out of any funds or properties other than those of the authority. (3) The bonds shall not constitute an indebtedness within the meaning of any constitutional or statutory provision of the laws of the state. Bonds may be issued under this part and part 44 notwithstanding any debt or other limitation prescribed by any statute.
Source: official Montana text · Last verified 2026-08-27
Frequently Asked Questions About Montana § 7-15-4503
What does Montana Code Annotated § 7-15-4503 cover?
Section 7-15-4503 ("Nature Of Bonded Indebtedness") is part of the Montana Code Annotated, the codified statutory law of Montana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Montana § 7-15-4503?
A common citation format is "Montana Code Annotated § 7-15-4503" (Montana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Montana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Montana official source linked on this page or consult a licensed Montana attorney.
How does Montana § 7-15-4503 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Montana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Montana.