Montana Code Annotated 2019

TITLE 75. ENVIRONMENTAL PROTECTION

CHAPTER 6. PUBLIC WATER SUPPLIES, DISTRIBUTION, AND TREATMENT

Part 3. Regional Water and Wastewater Authority Act

Statutory Mortgage Lien

75-6-325. Statutory mortgage lien. There is a statutory mortgage lien upon the water supply, wastewater transportation, or treatment system of the authority. The lien exists in favor of the holders of bonds authorized to be issued pursuant to this part, and each holder and the system remain subject to the statutory mortgage lien until payment in full of all principal of and interest on the bonds.

History: En. Sec. 15, Ch. 498, L. 1999.