North Dakota Century Code Title 54. State Government § 54-17.2-01. Definitions

1. “Commission” means the industrial commission acting as the North Dakota building authority created under this chapter.

2. “Evidences of indebtedness” means bonds, notes, debentures, and other evidences of indebtedness issued by the commission on behalf of the state of North Dakota to evidence money owed or borrowed.

3. “Financing agreement” means a written agreement between the commission and the state with respect to a project, whereby the state agrees to pay to the commission, when due, the principal of, premium, if any, and interest on bonds issued by the commission with respect to that project. A financing agreement may be in the form of a lease, mortgage, direct or installment sale contract, loan agreement, or take-or-pay or similar agreement, and be secured in a manner the parties agree to or be unsecured.

4. “Project” or “projects” means any:

5. “Project cost” means the total cost of a project or projects and all costs of issuance, financing, and interest during project construction or implementation included in the principal amount of evidences of indebtedness issued.

6. “State” means any branch of North Dakota government or any office, department, board, commission, bureau, division, public authority or corporation, agency, or instrumentality of the state.