§ 40-36-19 — Limitations on authorizations contained in chapter - Effect of chapter on bonds issued prior to March 12, 1937

bonds issued prior to March 12, 1937.
Nothing in this chapter shall be deemed in any way to:
1. Alter the terms of any agreements made with the holders of any outstanding notes,
bonds, or other obligations of the municipality, prior to March 12, 1937;
2. Authorize the municipality to alter the terms of any such agreements, or to impair, or to
authorize the municipality to impair, the rights and remedies of any creditors of the
municipality; or
3. To authorize any municipality to do anything in any manner or for any purpose which
would result in the creation or incurring of a debt or indebtedness or the issuance of
any instrument which would constitute a bond or debt within the meaning of any
provision, limitation, or restriction of the Constitution of North Dakota relating to the
creation or incurring of a debt or indebtedness or the issuance of an instrument
constituting a bond or a debt.