North Dakota § 61-02-53 Issuance and sale of bonds - Proceeds from sale - Use

North Dakota Statutes

§ 61-02-53 — Issuance and sale of bonds - Proceeds from sale - Use

North Dakota·Title 61 Waters·Ch. 61-02 Water Commission

The bonds authorized under this chapter may be issued and sold from time to time and in
amounts determined by the commission. The commission may, subject to the provisions of
section 61-02-48, provide for the sale of the bonds in such manner and for such price as it may
determine to be for the best interests of the state. The proceeds of the bonds shall be used
solely for the payment of the cost of works authorized by this chapter plus costs of issuance,
interest during construction, and any reasonably required reserve funds, and shall be paid out in
such manner and under such restrictions as the commission may provide.

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The bonds authorized under this chapter may be issued and sold from time to time and in
amounts determined by the commission. The commission may, subject to the provisions of
section 61-02-48, provide for the sale of the bonds in such manner and for such price as it may
determine to be for the best interests of the state. The proceeds of the bonds shall be used
solely for the payment of the cost of works authorized by this chapter plus costs of issuance,
interest during construction, and any reasonably required reserve funds, and shall be paid out in
such manner and under such restrictions as the commission may provide.

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