North Dakota Statutes
§ 24-02-40 — Short-term financing
North Dakota·Title 24 Highways, Bridges, and Ferries·Ch. 24-02 Director of the Department of Transportation
The department is hereby authorized, whenever needed, to arrange, with any state-owned
or private financing agency, including the Bank of North Dakota, short-term loans in the event
that construction funds on hand are insufficient to meet current obligations. Short-term financing
as provided herein must be in amounts no larger than can be repaid within four years from
moneys known to be due and forthcoming. In no event may such short-term financing be used
in anticipation of increased federal-aid highway grants or increased state highway user revenue
funds, nor may such loans be obligated for road construction that cannot be financed from a
known source of income.
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Nearby Sections
15
§ 24-01-01
Declaration of legislative intent§ 24-01-01.1
Definition of words and phrases§ 24-01-01.2
State highway system - Mileage§ 24-01-02
Designation of state highway system§ 24-01-03
Responsibility for state highway system§ 24-01-03.1
Highway performance classification plan§ 24-01-04.1
Metropolitan planning organizations§ 24-01-06
Authority to abandon sections of routes