N.D. Cent. Code § 61-02-68.19
Interim financing notes, guarantees, or bonds for municipal, rural, and industrial water supply projects - Public interest
Redline — December 1, 2021 → current.View current text →
Current — March 1, 2022
As of December 1, 2021
Guarantees made under section 61-02-68.14 or bonds or interim notes issued under this chapter for the purpose of providing construction period financing for owners of water projects eligible to receive municipal, rural, and industrial water supply funds pursuant to Pub. L. 99-294 [100 Stat. 418] are in the public interest and are not subject to the limitation contained in subsection 2 of section 61-02-46.
The commission, pursuant to appropriate resolution, and in order to carry out the business of developing the water resources of this state as provided in this chapter, may borrow money and issue interim financing notes (the terms “interim notes” or “notes”, unless the context otherwise requires, may be used in sections 61-02-68. 1 through 61-02-68. 19 in lieu of the term “interim financing notes”) in evidence thereof in order to provide owners with construction period financing. The construction period financing may include the costs of construction of works or projects, funding of debt service reserves and capitalized interest, and the payment of the costs of issuance.
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.