Each irrigation district in this state that has issued or shall issue bonds or improvement warrants purporting to have been issued for any purpose authorized by law, which bonds or improvement warrants have been sold and delivered to purchasers for value and constitute an existing indebtedness, may at any time after or before maturity refund the same and issue and sell refunding bonds in amounts, bearing interest at rates, and maturing on dates as determined by the board.
N.D. Cent. Code § 61-08-34
Refunding irrigation district bonds - Negotiating new bonds
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.