North Dakota Statutes
§ 15.1-07-09 — Sinking fund - Transfers - Increases
If a school board transfers money into a sinking fund, the board may not consider the
money to be cash on hand when computing the budget for the ensuing fiscal year. A school
board may not through transfers increase a sinking fund to the extent that the sinking fund is
greater than the amount needed to pay the bond issue in full.
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School district finance facts report - Contents