North Dakota § 61-08-39 Assessments - Proceeds - Levy

North Dakota Statutes

§ 61-08-39 — Assessments - Proceeds - Levy

North Dakota § 61-08-39

Title 61Waters

Ch. 61-08Fiscal Affairs of Irrigation Districts

This text of North Dakota § 61-08-39 (Assessments - Proceeds - Levy) 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 § 61-08-39 (2026).

Text

All assessments made by an irrigation district for the payment of the bonds or improvement
warrants to be refunded must inure to the benefit of the holders of the refunding bonds and the
proceeds of the assessments must be utilized for the purpose of paying the interest and
principal of the refunding bonds, and the board of directors of the irrigation district shall levy an
assessment against the lands of the district, as provided by law for levying assessments,
sufficient to pay the interest on the refunding bonds and to create a sinking fund to retire the
refunding bonds at maturity.

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All assessments made by an irrigation district for the payment of the bonds or improvement
warrants to be refunded must inure to the benefit of the holders of the refunding bonds and the
proceeds of the assessments must be utilized for the purpose of paying the interest and
principal of the refunding bonds, and the board of directors of the irrigation district shall levy an
assessment against the lands of the district, as provided by law for levying assessments,
sufficient to pay the interest on the refunding bonds and to create a sinking fund to retire the
refunding bonds at maturity.