North Dakota § 54-17.2-15 Evidences of indebtedness authorized - Interest rates - Exemption from taxation - Term

North Dakota Statutes

§ 54-17.2-15 — Evidences of indebtedness authorized - Interest rates - Exemption from taxation - Term

North Dakota § 54-17.2-15

Title 54State Government

Ch. 54-17.2North Dakota Building Authority

This text of North Dakota § 54-17.2-15 (Evidences of indebtedness authorized - Interest rates - Exemption from taxation - Term) 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.

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N.D. Cent. Code § 54-17.2-15 (2026).

Text

taxation - Term.
The commission, pursuant to legislative authorization, may, by resolution, authorize
preparation, sale, and issuance of evidences of indebtedness of the commission in amounts
and at such times, in fully registered form, with final maturity of not more than thirty years. The
evidences of indebtedness may bear the fixed or variable rate or rates of interest and may be
sold at the price or prices as the commission may provide at an average net interest cost not in

excess of twelve percent per annum for evidences of indebtedness sold at private sale, except
that there is no interest rate ceiling on issues sold at public sale or to the state. The evidences
of indebtedness are not subject to taxation by the state or by any county, municipality, or political
subdivision in the s

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taxation - Term.
The commission, pursuant to legislative authorization, may, by resolution, authorize
preparation, sale, and issuance of evidences of indebtedness of the commission in amounts
and at such times, in fully registered form, with final maturity of not more than thirty years. The
evidences of indebtedness may bear the fixed or variable rate or rates of interest and may be
sold at the price or prices as the commission may provide at an average net interest cost not in

excess of twelve percent per annum for evidences of indebtedness sold at private sale, except
that there is no interest rate ceiling on issues sold at public sale or to the state. The evidences
of indebtedness are not subject to taxation by the state or by any county, municipality, or political
subdivision in the state. The evidences of indebtedness are not indebtedness of the state or of
any officer or agent of the state within the meaning of any statutory or constitutional provision.