{"data":{"id":"us-mt/85-7-1419","jurisdiction":"us-mt","citation":"85-7-1419","heading":"Covenants in resolution authorizing issuance of bonds.","body":"A resolution authorizing the issuance of bonds under this part may contain covenants relating to:\n(1) the purposes for which the proceeds of sale of the bonds may be applied and the use and disposition of the proceeds;\n(2) the use and disposition of the revenue of the undertaking for which the bonds are to be issued, including the creation and maintenance of reserves;\n(3) the issuance of other or additional bonds payable from the revenue of the undertaking;\n(4) the operation and maintenance of the undertaking;\n(5) the insurance to be carried on the undertaking and the use and disposition of insurance money;\n(6) books of account and the inspection and audit of the books; and\n(7) the terms and conditions upon which the holders of the bonds or any portion of them or any trustee is entitled to the appointment of a receiver by the district court, which court shall have jurisdiction in such proceedings and which receiver may:\n(a) enter and take possession of the undertaking;\n(b) operate and maintain the undertaking;\n(c) prescribe fees, subject to the approval of the public service commission if such approval is required; and\n(d) collect, receive, and apply all revenues in the same manner as the issuer itself might do.","path":["TITLE 85. WATER USE","CHAPTER 7. IRRIGATION DISTRICTS","Part 14. Irrigation District Revenue Bond Act"],"source_url":"https://mca.legmt.gov/bills/mca/title_0850/chapter_0070/part_0140/section_0190/0850-0070-0140-0190.html","current_through":"Montana Code Annotated 2025","vintage":"","retrieved_at":"2026-09-14T05:01:21Z","sha256":"60932f0df9442a85a63432d5f73860fcf7f1dd0547c31918e78f723b011b9651","source_id":"us-mt","stale":false,"prev":"us-mt/85-7-1418","next":"us-mt/85-7-1420"},"notice":"GroundRules: Original legal text. Not legal advice."}