North Dakota § 61-24.8-38 Bonds may be used in making payments on contract - Bonds payable out of fund on which drawn - May be used to pay special assessments

North Dakota Statutes

§ 61-24.8-38 — Bonds may be used in making payments on contract - Bonds payable out of fund on which drawn - May be used to pay special assessments

North Dakota § 61-24.8-38

Title 61Waters

Ch. 61-24.8Garrison Diversion Conservancy District Irrigation Special Assessments

This text of North Dakota § 61-24.8-38 (Bonds may be used in making payments on contract - Bonds 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 § 61-24.8-38 (2026).

Text

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

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