North Dakota Statutes
§ 40-34-17 — Municipality which authorized bond issue prior to March 3, 1933, may finance under this chapter
finance under this chapter.
Any municipality, which has obtained authority prior to March 3, 1933, to issue and sell
bonds for the construction and installation of any of the improvements mentioned in this chapter
may defray the cost of such improvements entirely out of the proceeds of the sale of such
bonds, or it may defray the cost of such improvement in part out of the proceeds of the sale of
such general liability bonds and in part out of the proceeds of the sale of mortgage bonds as
provided in this chapter, except that the mortgage indebtedness upon such improvement, when
the same is created originally, shall not exceed three-fifths of the total cost of such
improvement. Bonds issued under this section which are a general liability of the municipality
shall not be issued except upon
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North Dakota § 40-34-17 (Municipality which authorized bond issue prior to March 3, 1933, may finance under this chapter) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Nearby Sections
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