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Current as of January 01, 2024 | Updated by FindLaw Staff
Upon the discontinuance of any municipal parking lot under the authority of sections 40-22-44 and 40-22-45, the governing body shall apply the proceeds from the sale of such property, if such property is sold, to the special assessment fund created to bear the cost of creating the parking lot. If there is any surplus after all of the outstanding special assessment warrants or bonds are redeemed, the surplus shall be transferred to the general fund of the municipality. If the proceeds from the sale of such property, if such property is sold, are insufficient to cover the cost of redeeming the outstanding special assessment warrants or bonds, the governing body shall provide for the payment of said warrants or bonds out of the general fund of the municipality.
Cite this article: FindLaw.com - North Dakota Century Code Title 40. Municipal Government § 40-22-46. Payment of outstanding warrants--Deposits of surplus in general fund--General fund liable for any outstanding warrants - last updated January 01, 2024 | https://codes.findlaw.com/nd/title-40-municipal-government/nd-cent-code-sect-40-22-46/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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