North Dakota § 40-27-01 Municipality may issue bonds to purchase special assessment warrants

North Dakota Statutes

§ 40-27-01 — Municipality may issue bonds to purchase special assessment warrants

North Dakota § 40-27-01

Title 40Municipal Government

Ch. 40-27Funding and Refunding Special Assessment Warrants

This text of North Dakota § 40-27-01 (Municipality may issue bonds to purchase special assessment warrants) is published on Counsel Stack Legal Research, covering North Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.D. Cent. Code § 40-27-01 (2026).

Text

A municipality may issue bonds for the purchase of outstanding special assessment
warrants of the municipality before or after their maturity, at the best price obtainable, but not
exceeding sixty percent of the par value thereof and the interest accrued to the date of
purchase. The rate of interest on the bonds shall not exceed the rate of interest on the special
assessment warrants for the purchase of which the bonds are issued, and such bonds shall not
be sold for less than the par value thereof plus the interest accrued thereon.

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A municipality may issue bonds for the purchase of outstanding special assessment
warrants of the municipality before or after their maturity, at the best price obtainable, but not
exceeding sixty percent of the par value thereof and the interest accrued to the date of
purchase. The rate of interest on the bonds shall not exceed the rate of interest on the special
assessment warrants for the purchase of which the bonds are issued, and such bonds shall not
be sold for less than the par value thereof plus the interest accrued thereon.