7-14-2753. Details relating to bonds. (1) Each bond shall provide that the holder shall not demand payment until it comes due. It shall bear interest payable annually and shall have interest coupons for each interest payment attached.
     (2) Each bond and coupon shall bear the date of issuance and be made payable to bearer. Each bond shall be signed by the chairman of the board and attested by the county clerk. The seal of the board shall be affixed to each bond.
     (3) Bonds shall be issued in denominations of not less than $100 or more than $1,000.
     (4) Each bond shall contain a reference to the district for which it is issued and to the order and record authorizing the issue. It shall state that it is payable only out of the local improvement funds created by special assessment and not otherwise.
     (5) On its face, each bond shall bear the designation of the district: "local improvement district No. .... in .... County, Montana".
     (6) The board may also direct in the order providing for issuance of the bonds that they be sold by the treasurer at not less than par value and accrued interest.

     History: (1) thru (5)En. Sec. 5-423, Ch. 197, L. 1965; amd. Sec. 28, Ch. 234, L. 1971; Sec. 32-3123, R.C.M. 1947; (6)En. Sec. 5-426, Ch. 197, L. 1965; Sec. 32-3126, R.C.M. 1947; R.C.M. 1947, 32-3123(2) thru (6), 32-3126(part).