§ 40-35-17 — Powers and duties of receiver of undertaking

North Dakota § 40-35-17

• Jurisdiction: North Dakota
• Title 40: Municipal Government
• Ch. 40-35: Revenue Bond Law

Text

A receiver appointed under the provisions of section 40-35-16, directly or by the receiver's
agents and attorneys, shall enter into and upon and take possession of the undertaking and
each and every part thereof immediately and may exclude therefrom the municipality, its
governing body, officers, agents, and employees, and all persons claiming under them. The
receiver shall have, hold, use, operate, manage, and control the undertaking, and each and
every part thereof, in the name of the municipality or otherwise as the receiver may deem best.
The receiver shall exercise all the rights and powers of the municipality with respect to the
undertaking as the municipality itself might do. The receiver shall maintain the undertaking and
restore and insure it and keep the same insured, and from time to time, the receiver shall make
all repairs which the receiver deems necessary, proper, or expedient. The receiver shall
establish, levy, maintain, and collect such fees, tolls, rentals, and other charges in connection
with the undertaking as the receiver may deem necessary, proper, and reasonable, and the
receiver shall collect and receive all revenues and shall deposit the same in a separate account
and apply such revenues in such manner as the court shall direct.