North Dakota § 40-61-15 Tax contract by the state

North Dakota Statutes

§ 40-61-15 — Tax contract by the state

North Dakota·Title 40 Municipal Government·Ch. 40-61 Municipal Parking Authority Act

The state of North Dakota covenants with the purchasers and with all subsequent holders
and transferees of bonds or notes issued by an authority pursuant to this chapter, in

consideration of the acceptance of and payment for the bonds or notes, that the bonds and
notes of an authority issued pursuant to this chapter and the income therefrom, and all moneys,
funds, and revenues pledged to pay or secure the payment of such bonds or notes shall at all
times be free from taxation, except for estate taxes and taxes on transfers by or in
contemplation of death.

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The state of North Dakota covenants with the purchasers and with all subsequent holders
and transferees of bonds or notes issued by an authority pursuant to this chapter, in

consideration of the acceptance of and payment for the bonds or notes, that the bonds and
notes of an authority issued pursuant to this chapter and the income therefrom, and all moneys,
funds, and revenues pledged to pay or secure the payment of such bonds or notes shall at all
times be free from taxation, except for estate taxes and taxes on transfers by or in
contemplation of death.

North Dakota § 40-61-15 (Tax contract by the state) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.