A picture of a board room setup for a meeting

Fire District INTERCAP Loans

  • APPARATUS
  • EMERGENCY RESPONSE APPARATUS
  • EQUIPMENT
  • NEW CONSTRUCTION & IMPROVEMENTS
Repayment Option Borrowing Statutes Loan Term* Vote Req'd? Collateral
General Fund 7-33-2109 10 year No First lien on vehicles & equipment
General Obligation* 7-33-2109 & 7-7-22 15 year Yes Full faith, credit & taxing power pledge

Fire Service Area INTERCAP Loans

  • APPARATUS
  • EMERGENCY REPSONSE APPARATUS
  • EQUIPMENT
  • NEW CONSTRUCTION & IMPROVEMENTS
Repayment Option Borrowing Statutes Loan Term* Vote Req'd? Collateral
General Fund 7-33-2404 10 year No First lien on vehicles & equipment
General Obligation** 7-33-2404 & 7-7-22 15 year Yes Full faith, credit & taxing power pledge

 

*Eligible governments must adhere to State law when financing capital projects and cannot finance projects for a longer term than allowed. Board staff will consider the maximum loan term authorized in statute, as well as the repayment ability of the eligible borrower, when reviewing loan requests. In addition, loan terms cannot exceed the useful life of the project being financed.

**Bond Counsel required.

 


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