Title 54 — State Government
128 chapters · 1,241 sections in this title.
N.D.C.C. § 54-30-04 Bonds - Series designation - Terms - Execution
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Each issue of bonds must be designated by series figure or figures, or by series letter or letters, or by a combination of both figures and letters, and such designation must be different from that of every other issue. All mortgages securing the bond issues must be given a serie…
N.D.C.C. § 54-30-05 Denominations - Maturity - Interest rate
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The bonds issued under this chapter must be payable in not more than thirty years from the date of issue. The terms of the bonds as to denominations, period of maturity, and rate of interest must be fixed by the commission.
N.D.C.C. § 54-30-06 Interest rate of bonds
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Repealed by S.L. 1981, ch. 269, § 34.
N.D.C.C. § 54-30-07 Bonds - Where payable - Presentment for payment
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The principal and interest of bonds issued under this chapter must be payable at or by the office of the state treasurer in Bismarck, or at or by a bank or trust company designated in accordance with section 54-30-16. Each bond and coupon must be presented at the office where the…
N.D.C.C. § 54-30-08 Bonds delivered to industrial commission
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In furtherance of the purposes of this chapter, the governor and the state treasurer, after the issue, execution, sealing, and attestation of bonds, shall deliver them to the industrial commission, in such denominations and amounts, bearing interest at such rates, and running to …
N.D.C.C. § 54-30-09 Sale and delivery of bonds by industrial commission
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The industrial commission, in connection with and in addition to its other powers and duties, shall act as the agent of the state for the negotiation, sale, and delivery of the bonds issued under the provisions of this chapter. It shall sell them at not less than ninety-eight per…
N.D.C.C. § 54-30-10 Credit of state of North Dakota pledged for payment of bonds
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Upon the delivery of bonds purchased and paid for under the provisions of this chapter, the faith and credit of the state of North Dakota is pledged for the payment thereof, both principal and interest, to the lawful holder and owner thereof, upon presentment for payment.
N.D.C.C. § 54-30-11 Payment of assigned mortgage
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After the Bank, under this chapter, has assigned any mortgage, and the obligation thereby secured, all payments thereon must be made to the Bank in trust for: 1. The security and payment of bonds to be issued as provided in this chapter; and 2. Delivery to the general fund of the…
N.D.C.C. § 54-30-15 Investment of bond sinking fund
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The state treasurer, with the approval of the industrial commission, shall invest the fund designated as the real estate bond sinking fund in any securities designated as legal investments by section 15-03-04. At the request of the commission, the state treasurer shall redeem and…
N.D.C.C. § 54-30-17 Bank of North Dakota to collect obligations secured by mortgage
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If the obligation secured by any mortgage held by the state treasurer under the provisions of this chapter is not performed by the mortgagor according to its terms, or if any condition expressed in any such mortgage is not performed and kept according to its terms, the state trea…
N.D.C.C. § 54-30-18 Foreclosure of mortgage by Bank of North Dakota - Sale by bank
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Repealed by S.L. 1983, ch. 567, § 16. 54-30-19. Foreclosure - Power of attorney not required - Costs - Property bid in for state when bid is not sufficient. Repealed by S.L. 1983, ch. 567, § 16.
N.D.C.C. § 54-30-20 Transfer of land covered by mortgage to state by mortgagor
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The Bank of North Dakota, instead of foreclosing, may take a conveyance from the owner to the state treasurer as trustee for the state of North Dakota in payment of the mortgage covering the land conveyed.
N.D.C.C. § 54-30-21 Bonds bought with proceeds of foreclosure sale
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Repealed by S.L. 1983, ch. 567, § 16.
N.D.C.C. § 54-30-22 When sheriff's deed issued to state on foreclosure sale - Taxes suspended
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Repealed by S.L. 1983, ch. 567, § 16. 54-30-23. Land acquired by state through foreclosure sold by state - Proceeds of sale - Where deposited - Sale approved. Repealed by S.L. 1977, ch. 138, § 12. 54-30-24. Cash balance in hands of state treasurer - Information - Mortgages substi…
N.D.C.C. § 54-30-24.1 Bonds as legal investments and security
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Notwithstanding any restrictions contained in any other law, the state and all public officers, boards, and agencies, and political subdivisions and agencies thereof, all national banking associations, state banks, trust companies, savings banks and institutions, savings and loan…
N.D.C.C. § 54-30-25 Bonds and certificates of indebtedness exempt from taxation
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All bonds and certificates of indebtedness issued under this chapter are exempt from state, county, and municipal taxes of all kinds. 54-30-26. Industrial commission to make annual statement of condition of funds - Tax for deficiency in funds or indicated deficiency. The industri…
N.D.C.C. § 54-30-27 Certificate of indebtedness issued to meet interest due on bonds
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If there are not sufficient funds in the real estate bond sinking fund to meet the payment of principal and interest due on real estate series bonds on any principal or interest payment date, the state treasurer may borrow sufficient funds by the issuance of certificates of indeb…
N.D.C.C. § 54-30-28 Amount of bonds which may be issued
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The powers herein granted may be exercised repeatedly and the duties following thereon likewise shall be performed from time to time, as the occasion may arise under this chapter, but at no time may the amount of bonds issued and outstanding pursuant to this chapter exceed the am…
N.D.C.C. § 54-30-29 Real estate bond funds
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The real estate bond funds on deposit with the state treasurer must be maintained in the sums needed to pay outstanding valid enforceable real estate series bonds of the state of North Dakota and lawful interest thereon. All money in said funds not needed for such bonds and inter…
N.D.C.C. § 54-30-30 Transfer of real estate bond trust
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Repealed by S.L. 1983, ch. 567, § 16.
N.D.C.C. § 54-30-30.1 Transfer to board of university and school lands
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Repealed by S.L. 1983, ch. 567, § 16.
N.D.C.C. § 54-30-31 Consideration
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Repealed by S.L. 1983, ch. 567, § 16.
N.D.C.C. § 54-30-32 Management of the trust
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During the intervals between remittances to the state treasurer for the state general fund, funds available therefor may be invested as other moneys of the Bank of North Dakota are invested. The president of the Bank of North Dakota shall collect upon and enforce to the fullest e…
N.D.C.C. § 54-30-33 Remittances to the state general fund
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Following each calendar quarter for which the president of the Bank of North Dakota receives funds of said trust over and above costs and expenses of the Bank of North Dakota incident thereto and exceeding a proper portion of the regular Bank appropriation and a reasonable reserv…