North Dakota § 54-17.2-08 State's option to purchase - Conveyance on exercise of option

North Dakota Statutes

§ 54-17.2-08 — State's option to purchase - Conveyance on exercise of option

North Dakota § 54-17.2-08

Title 54State Government

Ch. 54-17.2North Dakota Building Authority

This text of North Dakota § 54-17.2-08 (State's option to purchase - Conveyance on exercise of option) 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 § 54-17.2-08 (2026).

Text

A financing agreement must provide that the state may, at the expiration of the original or
any extended term, purchase the project at a stated price, which must be the balance of the
total project cost not amortized by the payments previously made by the state. The financing
agreement must provide that if the option to purchase the project has been exercised or if the
financing agreement has been extended for the full number of years which it may be extended,
and all payments provided for in the financing agreement have been made and all project costs
have been paid, the commission shall convey its interest in the project to the lessee.

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A financing agreement must provide that the state may, at the expiration of the original or
any extended term, purchase the project at a stated price, which must be the balance of the
total project cost not amortized by the payments previously made by the state. The financing
agreement must provide that if the option to purchase the project has been exercised or if the
financing agreement has been extended for the full number of years which it may be extended,
and all payments provided for in the financing agreement have been made and all project costs
have been paid, the commission shall convey its interest in the project to the lessee.