2003 Montana Legislature

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HOUSE BILL NO. 46

INTRODUCED BY D. HAINES

BY REQUEST OF THE DEPARTMENT OF NATURAL RESOURCES AND CONSERVATION

 

AN ACT INCREASING TO $40 MILLION THE AUTHORITY TO ISSUE AND SELL GENERAL OBLIGATION BONDS FOR THE STATE'S SHARE OF THE WATER POLLUTION CONTROL STATE REVOLVING FUND PROGRAM; INCREASING TO $30 MILLION THE AUTHORITY TO ISSUE AND SELL GENERAL OBLIGATION BONDS FOR THE STATE'S SHARE OF THE DRINKING WATER STATE REVOLVING FUND PROGRAM; AUTHORIZING THE CREATION OF STATE DEBT; AMENDING SECTIONS 75-5-1122 AND 75-6-227, MCA; AND PROVIDING AN EFFECTIVE DATE.

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MONTANA:

 

     Section 1.  Section 75-5-1122, MCA, is amended to read:

     "75-5-1122.  Creation of debt. The legislature, through the enactment of this law by a two-thirds vote of the members of each house, authorizes the creation of state debt in an amount not to exceed $30 $40 million and the issuance and sale of general obligation bonds in this amount for the purpose of providing the state's share of the program."

 

     Section 2.  Section 75-6-227, MCA, is amended to read:

     "75-6-227.  Creation of debt. The legislature, through enactment of this section, authorizes the creation of state debt in an amount not to exceed $20 $30 million and authorizes the issuance and sale of general obligation bonds in this amount for the purpose of providing the state's share of the drinking water program."

 

     Section 3.  Two-thirds vote required. Because [sections 1 and 2] authorize the creation of state debt, Article VIII, section 8, of the Montana constitution requires a vote of two-thirds of the members of each house of the legislature for passage.

 

     Section 4.  Effective date. [This act] is effective July 1, 2003.

- END -

 


Latest Version of HB 46 (HB0046.ENR)
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