Montana § 7-6-1102 - Gross Proceeds And Short-Term Obligations Authorized
Full text of Montana Montana Code Annotated § 7-6-1102 — Gross Proceeds And Short-Term Obligations Authorized, with citation guidance and answers to common questions.
§ 7-6-1102. Gross Proceeds And Short-Term Obligations Authorized
Gross proceeds and short-term obligations authorized. A local government may issue and sell gross proceeds obligations or short-term obligations as provided in this part in anticipation of taxes or revenues budgeted to be received and appropriated for expenditure during the fiscal year in which the obligations are issued. The proceeds of the obligations may be expended solely for the purposes for which the taxes or revenues were appropriated and for costs and expenses incident to the issuance and sale. Pending expenditure, the proceeds may be invested as provided by law. The principal and interest on short-term obligations must be repaid from the money derived from the taxes and revenues in anticipation of which they were issued, income from investment of the proceeds of the obligations, and any money otherwise legally available for this purpose.
Source: official Montana text · Last verified 2026-08-27
Frequently Asked Questions About Montana § 7-6-1102
What does Montana Code Annotated § 7-6-1102 cover?
Section 7-6-1102 ("Gross Proceeds And Short-Term Obligations Authorized") 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 § 7-6-1102?
A common citation format is "Montana Code Annotated § 7-6-1102" (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 § 7-6-1102 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.