§ 40-28-05 — Sewer and water connections assessment fund - Warrants - Payment

All money collected from assessments for laying and constructing sewer, water, and other
service connections provided for in this chapter shall be kept in a fund called "sewer and water
connections assessment fund", and warrants shall be drawn on such fund for the payment of
the cost of such connections. All sewer and water connections assessment warrants shall be

payable as specified and in such amount as in the judgment of the governing body will be
provided by the taxes and assessments. Such warrants shall bear interest at a rate of not more
than seven percent per annum and interest shall be payable annually. They may have coupons
attached representing each year's interest. The warrants shall state on their face the purpose for
which they were issued and from what fund they are payable, and shall be signed by the
executive officer, countersigned by the city auditor under the seal of the municipality, and shall
be in denominations of not to exceed one thousand dollars each. The warrants may be used to
make payment on contracts for making the connections or may be sold for cash at not less than
par value thereof and the proceeds credited to the special fund and used to pay for such
connections. Except as otherwise provided in section 40-26-08, a municipality shall not be liable
generally on any contracts for the making of such connections and shall not be required to pay
funds raised by general taxation upon any such contract.