Comprehensive Annual Financial Report for the Fiscal Year Ended 1991 Jun 30

Cover Comprehensive Annual Financial Report for the Fiscal Year Ended 1991 Jun 30
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Principal pay- ments (accrued interest to be added) are due each March 15. Series 1985 J ($665,000) and Series 1985 B ($690,000) were recalled on March 15 and December 15, 1988, respectively, without a gain or loss on extinguishment.
(2) These bonds, which may not aggregate more than $50 million, were issued to provide funds to finance the purchase of tax and revenue anticipation notes (TRANS) of participating local government units. The bonds are not a debt or liability of the State of Montana
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The bonds are limited obligations of the Board of Investments payable solely from repayments of principal and interest on local government TRANS, proceeds of a loan made by the Board of Investments and investment income.
(3) These bonds were issued to obtain funds for the Board of Investments, State of Montana, to purchase the Refunding Bonds of participating Irrigation Districts for the purpose of prepaying the U.S. Department of Interior, Bureau of Reclamation Projects Loans. The Irrigation Bonds and the interest thereon are payable solely from the collection of a special tax or assessment levied against real property in the Irrigation District.


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