Title 21, Governmental Finance
15 chapters · 155 sections in this title.
N.D.C.C. § 21-02-01 Definitions
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In this chapter unless the context or subject matter otherwise requires: 1. "Political subdivision" means a local governmental unit created by statute or by the Constitution of North Dakota for local governmental or other public purposes. 2. "Revenues" means any of the following:…
N.D.C.C. § 21-02-02 Certificates of indebtedness - By whom issued - Term - Interest - General obligation
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Political subdivisions may borrow against revenues through the issuance of certificates of indebtedness. A certificate of indebtedness consists of an agreement on the part of a political subdivision to pay a stated sum on or before a specified date, together with interest thereon…
N.D.C.C. § 21-02-03 Certificate of county auditor
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A tax is deemed to have been levied when it has been voted by the tax levying board and certified to the county auditor. Each certificate of indebtedness issued wholly or in part against revenues that consist of levied and uncollected taxes must bear the certificate of the county…
N.D.C.C. § 21-02-05 Record of certificates of indebtedness issued against levied and uncollected taxes
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The county auditor shall keep a record in which must be entered, as to each certificate of indebtedness issued by a political subdivision and certified to by the county auditor as provided in section 21-02-03, the same information as required for the recording of bonds in section…
N.D.C.C. § 21-02-06 Certifying amount of uncollected taxes
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The county auditor, upon request of the officers of a political subdivision, shall certify to them the amount of uncollected taxes remaining upon the tax lists to the credit of the political subdivision on the last day of the preceding month, and annually shall certify such infor…
N.D.C.C. § 21-02-07 Authorizing resolution - Sinking fund
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When a political subdivision issues a certificate of indebtedness under this chapter, the political subdivision, by resolution authorizing the issuance of the certificate of indebtedness, shall establish a sinking fund for the retirement of the certificate of indebtedness, includ…
N.D.C.C. § 21-02-08 Percentage of current taxes used to pay delinquent certificates of indebtedness
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If sufficient funds are not collected to retire outstanding certificates of indebtedness issued wholly or in part against revenues that consist of uncollected taxes within two months after their due date, there must be set aside monthly from current tax collections, exclusive of …
N.D.C.C. § 21-02-11 Advertising for bids - When required - Procedure similar to bond sales
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If the governing board of a political subdivision determines to borrow upon certificates of indebtedness, the governing board shall follow the procedure and is subject to the penalties prescribed in the provisions relating to the sale of bonds in chapter 21-03.
N.D.C.C. § 21-02-14 Presumption of validity
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After issuance by a political subdivision, a certificate of indebtedness that recites that it is issued under this chapter is conclusively presumed to be fully authorized and issued under the laws of the state, and any person or governmental unit is estopped from questioning its …
N.D.C.C. § 21-02-15 Certificate of indebtedness exempt from state taxation - Review for exemption from federal taxation
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Payments of the principal of and interest on a certificate of indebtedness issued under this chapter are exempt from all taxes, except inheritance, estate, and transfer taxes, imposed by this state, any county or city, or any other political subdivision. However, a political subd…