BOI Board Room

State Agency INTERCAP Loans

17-5-1612 Montana Code Annotated

The legislature intends that individual state agencies may borrow from the program established in this part, as specifically authorized by the legislature under the following conditions:

(1) A loan for which the security is an enterprise or internal service fund source may be approved by a simple majority vote of the legislature.  (See also 17-5-2001.)

(2) A loan for which the security is a general fund appropriation, a general fund revenue source, or any type of tax or fee imposed by the legislature must be approved by a two-thirds vote of the members of each house of the legislature and must include language authorizing the creation of a state debt under Article VIII, section 8, of the Montana constitution.

The state agency needs to have the above legislative approval prior to applying for the INTERCAP loan.  If legislative approval is in place, please continue your loan request by downloading and completing the INTERCAP application.


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