Bonds issued for the purchase of special assessment warrants shall mature serially. The first installment shall fall due not more than three years from the date of issuance of the bonds, and the last installment shall fall due not more than twenty years from the date of the bonds.
N.D. Cent. Code § 40-27-03
Funding bonds to mature serially - When installments fall due
Official source: North Dakota Legislative Branch. Reproduced from public-domain North Dakota statutes; confirm against the official source for the current text. Not legal advice.