{"data":{"id":"us-mt/85-9-406","jurisdiction":"us-mt","citation":"85-9-406","heading":"Directors' powers over finance.","body":"On behalf of the district, the directors may:\n(1) borrow money and incur indebtedness and issue bonds to finance works as provided by this chapter;\n(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;\n(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;\n(4) use any surplus funds to purchase outstanding bonds;\n(5) refund bonded indebtedness incurred by the district as provided by this chapter;\n(6) after a hearing held in accordance with 85-9-602, make assessments sufficient to meet the budgetary requirements for the coming year.","path":["TITLE 85. WATER USE","CHAPTER 9. CONSERVANCY DISTRICTS","Part 4. Organization and Procedure"],"source_url":"https://mca.legmt.gov/bills/mca/title_0850/chapter_0090/part_0040/section_0060/0850-0090-0040-0060.html","current_through":"Montana Code Annotated 2025","vintage":"","retrieved_at":"2026-09-14T05:01:29Z","sha256":"3b0d3b4395d8248fff0eb9b112758ba589ed57f4af67e72ff0ffb5601ae8f6d4","source_id":"us-mt","stale":false,"prev":"us-mt/85-9-405","next":"us-mt/85-9-407"},"notice":"GroundRules: Original legal text. Not legal advice."}