Montana § 85-9-406 - Directors' Powers Over Finance
Full text of Montana Montana Code Annotated § 85-9-406 — Directors' Powers Over Finance, with citation guidance and answers to common questions.
§ 85-9-406. Directors' Powers Over Finance
Directors' powers over finance. On behalf of the district, the directors may: (1) borrow money and incur indebtedness and issue bonds to finance works as provided by this chapter; (2) in addition to all voted indebtedness, borrow money as necessary, but the amount may not at any one time exceed 0.23% of the total assessed value of taxable real property, determined as provided in 15-8-111 , within the district, as ascertained by the last assessment for state and county taxes prior to the issuance of the bonds; (3) mortgage property owned by the district if the terms of the mortgage are not inconsistent with the provisions of a resolution authorizing the sale of bonds; (4) use any surplus funds to purchase outstanding bonds; (5) refund bonded indebtedness incurred by the district as provided by this chapter; (6) after a hearing held in accordance with 85-9-602 , make assessments sufficient to meet the budgetary requirements for the coming year.
Source: official Montana text · Last verified 2026-08-27
Frequently Asked Questions About Montana § 85-9-406
What does Montana Code Annotated § 85-9-406 cover?
Section 85-9-406 ("Directors' Powers Over Finance") 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 § 85-9-406?
A common citation format is "Montana Code Annotated § 85-9-406" (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 § 85-9-406 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.