North Dakota § 61-16.1-35 Warrants may be used in making payments on contract - Warrants payable out of fund on which drawn - May be used to pay special assessments

North Dakota Statutes

§ 61-16.1-35 — Warrants may be used in making payments on contract - Warrants payable out of fund on which drawn - May be used to pay special assessments

North Dakota § 61-16.1-35

Title 61Waters

Ch. 61-16.1Operation of Water Resource Districts

This text of North Dakota § 61-16.1-35 (Warrants may be used in making payments on contract - Warrants payable out of fund on which drawn - May be used to pay special assessments) 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 § 61-16.1-35 (2026).

Text

payable out of fund on which drawn - May be used to pay special assessments.
Improvement warrants may be used in making payments on contracts for construction of
the project for which the special assessment fund was created, or may be sold for cash at not
less than ninety-eight percent of par and accrued interest, and the proceeds thereof, less
accrued interest, shall be credited to the construction account of such fund and shall be used
exclusively to pay such contracts and construction costs. Any balance remaining in any
construction account after completion of a project shall be transferred to the sinking fund
account of the assessment fund. The treasurer of the district shall pay special assessment
warrants and any interest coupons attached thereto as they mature and are presented for

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payable out of fund on which drawn - May be used to pay special assessments.
Improvement warrants may be used in making payments on contracts for construction of
the project for which the special assessment fund was created, or may be sold for cash at not
less than ninety-eight percent of par and accrued interest, and the proceeds thereof, less
accrued interest, shall be credited to the construction account of such fund and shall be used
exclusively to pay such contracts and construction costs. Any balance remaining in any
construction account after completion of a project shall be transferred to the sinking fund
account of the assessment fund. The treasurer of the district shall pay special assessment
warrants and any interest coupons attached thereto as they mature and are presented for
payment out of the fund on which they are drawn and shall cancel the warrants and any
coupons when paid.