North Dakota Statutes
§ 61-02-58 — Lien upon bond proceeds
All moneys received from bonds of any series issued pursuant to this chapter shall be used
solely for the purpose of paying the cost of the works or projects for the construction of which
the bonds have been issued, or for the purpose of paying costs of issuance, interest during
construction, and establishing any reasonably required reserve funds. There shall be a lien
upon such moneys, until so used in favor of the holders of the bonds or the trustee provided for
in this chapter in respect to the bonds.
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