North Dakota Statutes
§ 61-35-39 — Liability of district for bonds - Taxing power prohibited - Bond not a lien
Revenue and refunding bonds issued under this chapter may not be payable from or
charged upon any funds other than the revenue pledged to their payment and the district issuing
the bonds may not be subject to any pecuniary liability. The holder of any such bonds may not
enforce payment of the bonds against any property of the district. Bonds issued under this
chapter do not constitute a charge, lien, or encumbrance upon any property of the district. Each
bond issued under this chapter must recite in substance that the bond, and interest on the bond,
is payable solely from the revenue pledged to the payment and that the bond does not
constitute a debt of the district within the meaning of any constitutional or statutory limitation.
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