Solid Waste District INTERCAP Loans
The Montana Legislature authorizes a Solid Waste Management District to borrow in accordance with and for purposes listed in 7-11-10 Montana Code Annotated (MCA) with concurrence of its board of county commissioners.
||Up to 15 years
||No, unless amount over 7-7-2402 authorization
Rates and charges must be set to generate net revenues to cover debt service by a factor of 1.25. The Board will require a reserve account (one year debt service or 10% of the loan, whichever is less).
• Bond Counsel will be required to ensure parity bonds if Borrower has existing outstanding debt with the same revenue pledge.
• The County will be the co-borrower on the Solid Waste Management District loan.
• 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.
• For more solid waste financing options visit the Water, Wastewater & Solid Waste Action Coordinating Team (WASACT) website.