N.D. Cent. Code ch. 40-36 – Revenue Bond Refinancing Law | Midpage

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North Dakota Century Code

Chapter 40-36

N.D. Cent. Code ch. 40-36

Revenue Bond Refinancing Law

40-36-01Short title 40-36-02Definitions 40-36-03Municipalities may refinance enterprise - Borrow money - Issue refunding bonds 40-36-04Refunding bonds authorized by resolution - Adoption - Taking effect 40-36-05Provisions governing issuance of refunding bonds 40-36-06Validity of refunding bonds 40-36-07Refunding bonds exempt from taxation - Exception 40-36-08Provisions that may be inserted in resolution authorizing issuance of refunding bonds 40-36-09Refunding bonds secured by a lien upon revenues of enterprise - Pledging fixed amount as security 40-36-10Additional security for refunding bonds - Contents of bonds with additional security 40-36-11No priority in refunding bonds of same issue 40-36-12Refunding bonds not a debt of municipality - Refunding bond to recite fund from which payable 40-36-13Exchange or sale of refunding bonds 40-36-14Recourse to general fund to pay refunding bonds prohibited - Credit or taxing power not pledged to payment 40-36-15Municipalities may appoint fiscal agent - Make rules and regulations governing 40-36-16Duties of municipality and officers 40-36-17General remedies of holders of refunding bonds - Receiver of enterprise 40-36-18Waiver of default or breach of duty or contract not to extend to subsequent default or breach of duty or contract 40-36-19Limitations on authorizations contained in chapter - Effect of chapter on bonds issued prior to March 12, 1937 40-36-20Construction - Procedure in issuance of refunding bonds