North Dakota § 40-36-12 Refunding bonds not a debt of municipality - Refunding bond to recite fund from which payable

North Dakota Statutes

§ 40-36-12 — Refunding bonds not a debt of municipality - Refunding bond to recite fund from which payable

North Dakota·Title 40 Municipal Government·Ch. 40-36 Revenue Bond Refinancing Law

from which payable.
Refunding bonds and the interest thereon shall not be a debt of the municipality nor a
charge, lien, or encumbrance, legal or equitable, upon any property of the municipality or upon
any income, receipts, or revenues of the municipality other than such of the revenues of the
enterprise as shall have been pledged to the payment thereof. Every refunding bond shall recite
in substance that the bond, including interest thereon, is payable solely from the revenues
pledged to the payment thereof and that the municipality is under no obligation to pay the same
except from said revenues.

Free access — add to your briefcase to read the full text and ask questions with AI

from which payable.
Refunding bonds and the interest thereon shall not be a debt of the municipality nor a
charge, lien, or encumbrance, legal or equitable, upon any property of the municipality or upon
any income, receipts, or revenues of the municipality other than such of the revenues of the
enterprise as shall have been pledged to the payment thereof. Every refunding bond shall recite
in substance that the bond, including interest thereon, is payable solely from the revenues
pledged to the payment thereof and that the municipality is under no obligation to pay the same
except from said revenues.

North Dakota § 40-36-12 (Refunding bonds not a debt of municipality - Refunding bond to recite fund from which payable) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.