Montana § 85-7-2132 - Sinking Fund For Straight Maturity Bonds
Full text of Montana Montana Code Annotated § 85-7-2132 — Sinking Fund For Straight Maturity Bonds, with citation guidance and answers to common questions.
§ 85-7-2132. Sinking Fund For Straight Maturity Bonds
Sinking fund for straight maturity bonds. When straight maturity bonds are issued, the board of commissioners of the district shall create and maintain a sinking fund sufficient to pay and discharge the bonds at maturity. If the bonds are issued for 20 years or less, there shall be annually levied for the sinking fund a special tax or assessment sufficient to produce a net amount represented by the quotient found by dividing the aggregate amount of the principal of the bonds by the number of years the bonds have to run; but if the bonds are issued for more than 20 years, it is not necessary to levy a special tax or assessment for sinking fund until the 20th year prior to the maturity of the bonds, at which time and each year thereafter there shall be levied and collected a special tax or assessment sufficient to produce a net sum equal to one-twentieth part of the aggregate amount of the principal of the bonds.
Source: official Montana text · Last verified 2026-08-27
Frequently Asked Questions About Montana § 85-7-2132
What does Montana Code Annotated § 85-7-2132 cover?
Section 85-7-2132 ("Sinking Fund For Straight Maturity Bonds") 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 § 85-7-2132?
A common citation format is "Montana Code Annotated § 85-7-2132" (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 § 85-7-2132 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.