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N.D. Cent. Code § 40-57-09

Provisions governing revenue bonds

Known as the Municipal Industrial Development Act

The act spans §§ 40-57-01 to 40-57-20 (24 sections).

The resolution or ordinance authorizing the issuance of revenue bonds under this chapter, or ordinance or resolution adopted subsequent to the adoption of the original resolution or ordinance, shall prescribe:

1. The rate or rates of interest which such bonds shall bear;

2. Whether the bonds shall be in one or more series;

3. The date or dates which such bonds shall bear;

4. The time or times, not exceeding forty years from their respective dates, when such bonds shall mature;

5. The medium in which such bonds shall be payable;

6. The place or places where such bonds shall be payable;

7. Whether or not such bonds shall carry registration privileges, and what such privileges, if any, shall be;

8. The terms of redemption, if any, to which such bonds shall be subject;

9. The manner in which such bonds shall be executed;

10. The terms, covenants, and conditions which such bonds shall contain; and 11. The form, either coupon or registered, in which such bonds shall be issued.

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.