Montana § 90-5-108 - Use Of Proceeds Of Bond Sales
Full text of Montana Montana Code Annotated § 90-5-108 — Use Of Proceeds Of Bond Sales, with citation guidance and answers to common questions.
§ 90-5-108. Use Of Proceeds Of Bond Sales
Use of proceeds of bond sales. (1) The proceeds from the sale of bonds issued under authority of this part must be applied only for the purpose for which the bonds were issued or to discharge any existing indebtedness secured by a lien against a hospital or long-term care facility or higher education facility leased or owned by a nonprofit corporation or against a family services provider facility. However, if the project is not a hospital or long-term care facility or higher education facility leased or owned by a nonprofit corporation or a family services provider facility, the proceeds from the sale of bonds may not be used to discharge indebtedness without an improvement to the project. (2) Any accrued interest and premium received in the sale of bonds must be applied to the payment of the principal of or the interest on the bonds sold. If for any reason any portion of the proceeds is not needed for the purpose for which the bonds were issued, then the unneeded portion of the proceeds must be applied to the payment of the principal of or the interest on the bonds.
Source: official Montana text · Last verified 2026-08-27
Frequently Asked Questions About Montana § 90-5-108
What does Montana Code Annotated § 90-5-108 cover?
Section 90-5-108 ("Use Of Proceeds Of Bond Sales") 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 § 90-5-108?
A common citation format is "Montana Code Annotated § 90-5-108" (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 § 90-5-108 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.