§ 2-06-14 — Tax levy may be requested by airport authority or municipality - Financial report

North Dakota § 2-06-14

• Jurisdiction: North Dakota
• Title 2: Aeronautics
• Ch. 2-06: Airport Authorities Act

Text

report.
An airport authority may request annually from the governing bodies of the municipalities
within the authority, an amount of tax to be levied by each municipality, and the municipalities
may levy the amount requested, under the law authorizing cities and other political subdivisions
of this state to levy taxes for airport purposes. With its levy request under this section, an airport
authority may certify its current and anticipated revenues and resources, any anticipated
revenue shortfall for bonded debt payment, and the amount necessary from its property tax levy
authority for its annual principal and interest payment for bonded debt incurred under this
chapter. If the authority finds the certified amount is necessary for the annual bonded debt
payment, the municipality shall levy for the airport authority not less than the certified amount. In
the year for which the levy is sought, an airport authority that is not a city or county governing
body and which is seeking approval of a property tax levy of a city or county governing body
under this chapter shall file with the auditor of each participating city or county, at a time and in a
format prescribed by the auditors, a financial report for the preceding calendar year showing the
ending balances of each fund held by the airport authority during that year. The levy made may
not exceed the maximum levy permitted by the laws of this state for airport purposes.
The municipality shall collect the taxes levied for an airport authority in the same manner as
other taxes are levied and collected. The proceeds of the taxes must be deposited in a special
account in which other revenues of the authority are deposited, and may be expended by the
authority as allowed under this chapter.
Before the issuance of bonds under section 2-06-10, the airport authority or the
municipality may by resolution provide its commitment under section 2-06-10 that the total
amount of taxes then authorized by law, or such portion as may be specified by the resolution,
will be certified, levied, and deposited annually until the bonds and interest are fully paid.