Learn About the Law
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Current as of January 01, 2024 | Updated by FindLaw Staff
Bond anticipation notes, revenue bonds, and refunding bonds issued under this chapter may not be payable from or charged upon any funds other than the revenue pledged to the bond's payment and the district's notes and bonds may not be subject to any pecuniary liability. The holder of any of these notes or bonds may not enforce payment of the notes or bonds against any tangible real or personal nonrevenue property of the district. Notes and bonds issued under this chapter do not constitute a charge, lien, or encumbrance upon any tangible real or personal nonrevenue property of the district, other than the revenues pledged to their payments. Each note and each bond issued under this chapter must recite in substance that the note or bond and interest on the note or bond is payable solely from the revenue pledged to the payment and that the note or bond does not constitute a debt of the state within the meaning of any constitutional or statutory limitation.
Cite this article: FindLaw.com - North Dakota Century Code Title 61. Waters § 61-24-29. Liability of district for notes and bonds--Taxing power prohibited - last updated January 01, 2024 | https://codes.findlaw.com/nd/title-61-waters/nd-cent-code-sect-61-24-29/
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.
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Search our directory by legal issue
Enter information in one or both fields (Required)