The award of any bonds issued pursuant to this article shall be made by the county executive or by the chief administrative officer of the county, acting with the authority of the county executive, to the bidder submitting the most favorable bid for the county upon a certification by the director of finance, and such order shall fix the interest rate payable on any such bonds.
The money so borrowed or the indebtedness incurred, in evidence of which the bonds shall be issued, shall be paid to the director of finance of the county and shall be used by the county exclusively and solely for the public facility described in the order of the county executive, and in the event the amounts so borrowed shall prove inadequate for the financing of any such public facility, at any time additional obligations may be issued for the purpose of evidencing the borrowing of additional funds for any such public facility, within limitations provided by law. If the funds derived from the sale of any issue of any such bonds shall exceed the amount needed to finance the public facility so described, the excess funds so borrowed may be set apart by the county and applied in payment of the first principal maturity of the obligations so issued or to the redemption of any part of such bonds, if the same shall have been made redeemable; but the excess funds shall in no event be used for any other county function nor for any other public facility except upon the passage of an order of the county executive to that effect. (Mont. Co. Code 1965, § 2-114; 1971 L.M.C., ch. 23, § 4.)