North Dakota Statutes
§ 40-36-09 — Refunding bonds secured by a lien upon revenues of enterprise - Pledging fixed amount as security
North Dakota § 40-36-09
This text of North Dakota § 40-36-09 (Refunding bonds secured by a lien upon revenues of enterprise - Pledging fixed amount as security) is published on Counsel Stack Legal Research, covering North Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
N.D. Cent. Code § 40-36-09 (2026).
Text
fixed amount as security.
Refunding bonds shall be special obligations of the issuing municipality and shall be
payable from, and secured by a lien upon, the revenues of the enterprise as shall be described
more fully in the resolution of the governing body authorizing the issuance of the refunding
bonds. Having due regard to the cost of operation and maintenance of the enterprise and the
amount or proportion, if any, of the revenues of the enterprise previously pledged, a municipality,
by a resolution of its governing body, may pledge for the security of the refunding bonds a fixed
amount without regard to any fixed proportion of the gross revenues of the enterprise.
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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 municipalityCite This Page — Counsel Stack
Bluebook (online)
North Dakota § 40-36-09, Counsel Stack Legal Research, https://law.counselstack.com/statute/nd/40-36-09.