§ 61-16.1-25 — Financial reports - Liability for deficiencies

North Dakota § 61-16.1-25

• Jurisdiction: North Dakota
• Title 61: Waters
• Ch. 61-16.1: Operation of Water Resource Districts

Text

In June and December of each year and as otherwise required by the county commission
appointing the managers of the district, the district treasurer shall report to the water resource
board in writing the amount of money in the treasury, the receipts, if any, in the preceding period
and the amount and items of expenditure during that period. The report shall be verified and
filed with the secretary of the district. A verified copy of the report shall also be filed in the office
of the county auditor of each county in which the district lies and shall be open to public
inspection.
During the month of January of each year, the water resource board shall prepare a
complete statement of the condition of the finances of the district for the past year and shall
cause the same to be filed with the county auditor of each county in which the district lies on or
before February first next following. Such statement shall show separately, and in detail, the
condition and resources of each and every assessment fund for the payment of project warrants
of the district, including the amount of any anticipated deficit and the apportionment thereof. At
its February meeting next following the filing of the statement of condition of any district, the
board of county commissioners shall examine the statement and make inquiry regarding the
same to determine whether or not the district has defaulted or may soon default on payment of
its financial obligations as the same become due.
Whenever all special assessments collected for a project are insufficient to pay the special
assessment warrants issued against such project, coming due within the following thirteen
months, with interest, the board of county commissioners of each of the counties wherein the
district lies shall advance to the district project warrant fund an amount sufficient to pay the
deficiency attributable to benefited property in each county. If it appears to the board at any time
that a deficiency exists or is likely to occur within one year in such project warrant fund for the
payment of principal or interest due or to become due on such warrants, the board of county
commissioners of each of the counties wherein the district lies, in order to forestall imminent
deficiency in such fund or to promptly restore the ability of such fund to pay principal and
interest punctually as the same become due, shall advance to such project fund the amount
necessary to cover the anticipated deficiency attributable to benefited property in such county.
In order to make such advances, the board of county commissioners of each of the counties
shall levy a general tax upon the taxable property in the county, and may issue certificates of
indebtedness against levies so made, or shall pay such advances from its general fund.
Advances made by the county or counties shall be obligations of the district to be met out of any
surplus in the district project warrant fund, and future district budgets and tax levies for the
district after provision has been made for necessary current expenses. No tax limitation
provided by any statute of this state shall apply to tax levies made by any county for the purpose
of making any advances in accordance with the provisions of this section.