§ 61-37-13 — Tax exemptions - Exemption of property from execution sale

North Dakota § 61-37-13

• Jurisdiction: North Dakota
• Title 61: Waters
• Ch. 61-37: Irrigation District Finance Program

Text

1. All property of the program and all bonds issued under this chapter are deemed to be
serving essential public and governmental purposes and the property and the bonds
issued, their transfer and their income, including any profits made on their sale, are
exempt from all state, county, and municipal taxes.
2. All property of the program is exempt from levy and sale by virtue of an execution and
no execution or other judicial process may issue against the property, nor may any
judgment against the program be a charge or lien upon its property; provided, that
nothing contained in this chapter applies to or limits the rights of the holder of any
bonds to pursue any remedy for the enforcement of any pledge or lien given by the
program on its revenues. Any action or proceeding in any court to set aside a
resolution authorizing the issuance of bonds by the program under this chapter or to
obtain any relief upon the ground that a resolution is invalid must be commenced
within ten days after the adoption of that resolution by the commission. After the
expiration of that period of limitation, no claim for relief or defense founded upon the
invalidity of the resolution or any of its provisions may be asserted, nor may the validity
of the resolution or any of its provisions be open to question in any court on any
ground whatsoever.