Montana § 7-31-116 - Payment Of Bonds And Other Obligations
Full text of Montana Montana Code Annotated § 7-31-116 — Payment Of Bonds And Other Obligations, with citation guidance and answers to common questions.
§ 7-31-116. Payment Of Bonds And Other Obligations
Payment of bonds and other obligations. (1) The faith of the county or incorporated city or town issuing bonds under the provisions of this part is solemnly pledged for the payment of the principal and interest according to the tenure of said bonds and the coupons attached to the same. (2) The board of county commissioners of the county or council of the incorporated city or town issuing said bonds: (a) shall ascertain and levy and assess a tax sufficient to pay the interest upon said bonds, which shall become a lien and be collected as other taxes; and (b) shall form such sinking fund for the payment of the principal thereof as may be necessary and proper, in the manner provided by law or ordinance, which shall be kept as a separate fund. (3) All bonds, coupons, orders, and warrants issued and drawn under the provisions of this part shall be promptly paid, registered, and entered in books kept for that purpose, with correct and proper entries made in respect thereto, and the same, when paid, shall be canceled and preserved, with proper entries made thereof, as provided by law in cases of other bonds, warrants, and orders.
Source: official Montana text · Last verified 2026-08-27
Frequently Asked Questions About Montana § 7-31-116
What does Montana Code Annotated § 7-31-116 cover?
Section 7-31-116 ("Payment Of Bonds And Other Obligations") 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 § 7-31-116?
A common citation format is "Montana Code Annotated § 7-31-116" (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 § 7-31-116 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.