The INTERCAP Loan Policy has been updated to align with House Bill 299 (Generally revising laws related to improvement district bonds) that became law during the 2019 Legislative Session.
In summary, HB 299 released the dollar amount restriction and non-marketability opinion requirement in relation to city or county government issuance of variable rate special or rural improvement district (SID/RID) bonds.
These bonds are used to finance primarily street and road improvements in addition to those listed in 7-12-4102, Montana Code Annotated.
Applications are available online at http://investmentmt.com/INTERCAP.
Any questions may be directed to: Louise Welsh, Senior Bond Program Officer, Montana Board of Investments (contact info below).