Nothing in this chapter may be construed to authorize or permit the state board of higher education, or any officer or agency of the state, to create any state debts, or to incur any obligations of any kind or nature, except as are payable solely and only from the special funds to be created from the revenues of the building or buildings or other campus improvements erected or constructed under the terms and provisions of this chapter, nor may the state of North Dakota or any funds or moneys of this state other than the special funds derived from the income of said building or buildings or campus improvements respectively ever be deemed obligated for the payment of the said bonds or any part thereof.
15-55-10. Limitation on buildings and other campus improvements and issuance of bonds. No building or other campus improvement may be erected or constructed under this chapter, and no bonds may be issued for the payment of the cost of any building or other campus improvement under this chapter, unless authorized by legislative act, nor may any building or other campus improvement be erected at a cost exceeding the amount fixed by the legislative assembly as the maximum to be expended for the building or other campus improvement undertaken under this chapter. The legislative authorization may be aggregated and the appropriation of the proceeds of the bonds for the construction of the buildings or improvements are not subject to cancellation under section 54-44.1-11. Authorization for the issuance of bonds by the legislative assembly expires four years after the effective date of the authorization unless bonds have been issued for the construction of buildings or improvements in the amounts so authorized or a contract for the design of the building has been signed by the state board of higher education before the expiration date or the authorization specifies a different expiration date. Refunding bonds may be issued by the state board of higher education under this chapter without legislative act to refund, at or before the maturity of or pursuant to
any privilege of prepayment reserved in or granted with respect to, any bonds issued to pay the cost of buildings or other campus improvements designated and authorized by legislative act.