85-8-503. Sale of notes or bonds. - Montana Statutes

     85-8-503. Sale of notes or bonds. Upon execution, the notes or bonds shall be deposited with the county treasurer, who shall register the same in a book for that purpose, which shall show the number and amount of each note or bond, its date, the date payable and redeemable, where payable, the person to whom issued. Upon sale of the notes or bonds, the county treasurer shall deliver the same to the person or persons to whom sold, upon their making payment for the same. Said notes or bonds may be sold by the commissioners at either public or private sale, either with or without advertisement, as they may deem it to the best interests of the district. Said notes or bonds shall not be sold at less than 90% of their face value. Said notes or bonds shall not be held to make the commissioners personally liable but shall constitute a lien upon the assessments for the repayment of the principal and interest of such notes or bonds.

     History: En. Sec. 79, Ch. 129, L. 1921; re-en. Sec. 7343, R.C.M. 1921; re-en. Sec. 7343, R.C.M. 1935; amd. Sec. 13, Ch. 260, L. 1959; amd. Sec. 36, Ch. 234, L. 1971; R.C.M. 1947, 89-2501(3).