Montana § 7-3-1321 - Authorization To Incur Indebtedness -- Limitation
Full text of Montana Montana Code Annotated § 7-3-1321 — Authorization To Incur Indebtedness -- Limitation, with citation guidance and answers to common questions.
§ 7-3-1321. Authorization To Incur Indebtedness -- Limitation
Authorization to incur indebtedness -- limitation. (1) The consolidated municipality may borrow money or issue bonds for any municipal purpose to the extent and in the manner provided by the constitution and laws of Montana for the borrowing of money or issuing of bonds by counties and cities and towns. (2) The municipality may not become indebted in any manner or for any purpose to an amount, including existing indebtedness, in the aggregate that exceeds 2.5% of the total assessed value of taxable property, determined as provided in 15-8-111 , within the municipality, as ascertained by the last assessment for state and county taxes prior to incurring indebtedness. All warrants, bonds, or obligations in excess of the amount given by or on behalf of the municipality are void.
Source: official Montana text · Last verified 2026-08-27
Frequently Asked Questions About Montana § 7-3-1321
What does Montana Code Annotated § 7-3-1321 cover?
Section 7-3-1321 ("Authorization To Incur Indebtedness -- Limitation") 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 § 7-3-1321?
A common citation format is "Montana Code Annotated § 7-3-1321" (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 § 7-3-1321 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.