17-6-705. Term of contract -- pledge. (1) A project is not eligible for an investment under 17-6-704 unless the applicant has signed an assignable electrical energy sales agreement with the default supplier or its successor in interest or with a Montana industry for a term of not less than 15 years or more than 25 years.
     (2) The proceeds of the contract must be pledged as security for the repayment of the investment.

     History: En. Sec. 5, Ch. 577, L. 2001.