North Dakota Statutes
§ 40-35-14 — Liability of municipality for bonds - Taxing power prohibited - Bond not a lien
lien.
Revenue bonds issued under this chapter shall not be payable from nor charged upon any
funds other than the revenue pledged to the payment thereof, nor shall the municipality issuing
the same be subject to any pecuniary liability thereon. No holder or holders of any such bonds
shall ever have the right to compel any exercise of the taxing power of the municipality to pay
any such bonds or the interest thereon, nor to enforce payment thereof against any property of
the municipality. Such bonds shall not constitute a charge, lien, nor encumbrance, legal or
equitable, upon any property of the municipality. Each bond issued under this chapter shall
recite in substance that the bond, including interest thereon, is payable solely from the revenue
pledged to the payment thereof, and that th
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Nearby Sections
15
§ 40-01-01
Definitions§ 40-01-02
Municipalities are bodies corporate§ 40-01-04
Vested rights§ 40-01-09
Official newspaper of municipality§ 40-01-13
Payment of accounts by municipality