North Dakota § 40-34-14 Payment of bonds by taxation - Limitations

North Dakota Statutes

§ 40-34-14 — Payment of bonds by taxation - Limitations

North Dakota·Title 40 Municipal Government·Ch. 40-34 Sewage and Garbage Disposal

Municipalities issuing bonds under this chapter, the principal or interest of which are not to
be paid out of funds created from service charges as provided in this chapter, may raise such
sum annually by taxation as the governing body or the respective governing bodies may deem
necessary to pay the interest on such bonds and to create a sinking fund to pay the principal
thereof as it falls due, but the amounts so raised shall not exceed in amount the limitations
provided in chapter 21-03.

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Municipalities issuing bonds under this chapter, the principal or interest of which are not to
be paid out of funds created from service charges as provided in this chapter, may raise such
sum annually by taxation as the governing body or the respective governing bodies may deem
necessary to pay the interest on such bonds and to create a sinking fund to pay the principal
thereof as it falls due, but the amounts so raised shall not exceed in amount the limitations
provided in chapter 21-03.

North Dakota § 40-34-14 (Payment of bonds by taxation - Limitations) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.