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University/Community College INTERCAP Loans

MONTANA UNIVERSITY SYSTEM INTERCAP LOANS

The Montana Legislature authorizes the Board of Regents of Higher Education for the State of Montana (the “University”) to borrow in accordance with 20-25-402 Montana Code Annotated (MCA) in behalf of the University units listed in 20-25-201 MCA for a any purpose in 20-25-3 and 20-25-4 MCA.

• Governing loan agreements - Agreements are identical for Montana State University (MSU) and University of Montana (UofM).

                   • Stand-Alone Program Agreement

                   • Surplus Net Revenue Program Agreement

• Completed university application (Word | PDF) signed by authorized Office of Commissioner of Higher Education (OCHE) representative required.
• Project may not have been previously rejected by the Legislature.
• Projects over $150,000 require Governor’s letter of consent to project, in accordance to 18-2-102 MCA.
• Loans over $500,000 require:
• Governor’s consent letter as stated above (if applicable)
• Board of Regents - Agenda Item approving project and authorization to secure loan through INTERCAP. 
• Source of Repayment is a pledge of net income from revenue-producing facilities, student fees and other income in furtherance of its general control and supervision of the Montana University System, pursuant to Title 20, Chapter 25, Parts 3 and 4, Montana Code Annotated, as amended; provided, however, that the State is not to be obligated on such indebtedness and no State funds except those specified are to be obligated unless specifically directed by the Legislature, as provided in Section 20-25-405, Montana Code Annotated, as amended.

 

MONTANA COMMUNITY COLLEGE INTERCAP LOANS

The Montana Legislature authorizes Montana Community Colleges to borrow in accordance with and for purposes listed in 20-15-301 Montana Code Annotated (MCA) with concurrence of the Board of Regents of Higher Education for the State of Montana.

POINTS OF INTEREST

• Completed university application (Word | PDF) signed by authorized Office of Commissioner of Higher Education (OCHE) required.
• Last two fiscal year audits and current budget required.

• Loans over $500,000 require:
• Board of Regents - Agenda Item approving project and authorization to secure loan through INTERCAP.


MONTANA BOARD OF INVESTMENTS | MONTANA DEPARTMENT OF COMMERCE
2401 COLONIAL DR, 3RD FLOOR | PO BOX 200126 | HELENA, MT 59620-0126 | P: 406-444-0001 | F: 406-449-6579 | TDD: 406-841-2702