§ 54-30-09 — Sale and delivery of bonds by industrial commission

North Dakota § 54-30-09

• Jurisdiction: North Dakota
• Title 54: State Government
• Ch. 54-30: Bonds of North Dakota, Real Estate Series

Text

The industrial commission, in connection with and in addition to its other powers and duties,
shall act as the agent of the state for the negotiation, sale, and delivery of the bonds issued
under the provisions of this chapter. It shall sell them at not less than ninety-eight percent of par
value for cash in such manner and at such times as in its sound discretion it shall deem most
advantageous to the interests of the state. The commission may receive all moneys paid by
buyers of the bonds, upon the sale thereof, and upon receipt of the purchase price may deliver
to each purchaser the bonds purchased by that purchaser according to law. The moneys so
derived and received from the sale of the bonds must be placed by the commission in the funds
of the Bank of North Dakota. When any bonds issued under the provisions of this chapter are
sold at a premium, such moneys to the extent of the amount of such premium must be delivered
to the reimbursement of the Bank of North Dakota for the expenses of conducting the work in
the department.