Title 40 — Municipal Government

1. Any city owning a system for the distribution of water for fire protection and other public purposes and for selling water to its inhabitants and industries, but for which the water supply is unsuitable or inadequate, may contract to purchase water at wholesale for those purpo…

Any city owning and operating a system of waterworks supplying water for municipal purposes and to its inhabitants and industries may enter into a contract in the manner hereinafter set forth, with any person, firm, public or private corporation, or limited liability company able…

In and by such resolutions and contract the city may bind itself to establish and maintain special rates and charges for the service of said plant, over and above its regular water rates, sufficient to produce net revenues adequate to make all payments of principal and interest o…

The powers conferred by sections 40-33-17 through 40-33-21 shall be in addition and supplemental to, and not in substitution for, and the limitations imposed by sections 40-33-17 through 40-33-21 shall not affect the powers conferred by any other law, and no other law shall be de…

Any jointly operated utility as provided in section 40-33-22 shall be authorized to sell and dispose of gas outside the limits of incorporated municipalities in such manner and upon such terms and conditions as may be prescribed by the public service commission.

All funds of any jointly operated utility as provided in section 40-33-22 shall not be subject to the provisions of sections 40-33-10 and 40-33-11, but shall be kept separate and apart from all other funds of any participating municipality and shall be disbursed in the manner pro…

Any surplus funds of any jointly operated utility, as provided for in section 40-33-22, shall be distributed to the participating municipalities ratably in proportion to their interest or ownership therein. Such surplus funds received by any municipality shall be disposed of by t…

Whenever the governing body of any municipality shall determine that the public convenience and necessity of the municipality require the purchase, acquisition, or establishment of a public transportation system, it may, by resolution adopted by the affirmative vote of a majority…

Upon the passage of a resolution as set forth in section 40-33-26, the municipality shall proceed in the manner set forth in chapter 21-03 for the issuance of the amount of general obligation bonds provided in said resolution, and if and when the issuance of general obligation bo…

All general obligation bonds issued pursuant to sections 40-33-26 through 40-33-29 shall be subject to all the restrictions, qualifications, and limitations of chapter 21-03, as well as all constitutional limitations upon indebtedness, and all revenue bonds issued pursuant to sec…

The provisions of sections 40-33-26 through 40-33-29 shall not apply to any case in which a municipality determines that the acquisition of a public transportation system should be financed through general obligation bonds only, or through revenue bonds only, it being the intenti…

Any municipality in this state, either individually or jointly by agreement, may own, acquire, construct, equip, extend, and improve, operate, and maintain, either within or without the corporate limits of the municipality, intercepting sewers, including pumping stations, a plant…

If a service rate is charged to the users of an improvement made under this chapter, a sufficient portion of the moneys collected for such service shall be set aside as a sinking fund for the payment of the interest on the bonds and the principal thereof at maturity, and shall co…

All first mortgage bonds issued under the provisions of this chapter may be negotiated in the same manner and with the same legal effect as negotiable instruments under title 41.

If the last maturing bonds secured by a first mortgage or deed of trust on an improvement, as provided in this chapter, are not paid when they become due, and if a deficiency remains, the governing body of the municipality, or the respective governing bodies of the municipalities…

When, after notice to the interested parties and due hearing thereon, the public service commission shall determine that the owner or owners of the utility or improvement have been paid in full out of the net revenues arising from the operation thereof, the commission shall issue…

After the principal and interest on the bonds secured by a first mortgage or deed of trust on an improvement as provided in this chapter have been fully paid, as the governing body of the municipality or the respective governing bodies of the municipalities may direct by resoluti…

Municipalities issuing bonds under this chapter, the principal or interest of which are not to be paid out of funds created from service charges as provided in this chapter, may raise such sum annually by taxation as the governing body or the respective governing bodies may deem …

The power given to municipalities in this chapter shall be in addition to and not in derogation of any power existing in any municipality under any provision of the laws of this state. 40-34-19. Agreements between municipalities and with the state or private parties - Leasing pro…

This chapter may be cited as the revenue bond law.

The term "undertaking", as used in this chapter, unless a different meaning clearly appears from the context: 1. Means systems, plants, works, instrumentalities, and properties used in revenue-producing undertakings, or any combination of two or more of such undertakings, which a…

Any municipality, in addition to the powers prescribed elsewhere by the laws of this state, shall have the power to: 1. Acquire by gift, purchase, or, subject to chapter 32-15, the exercise of the right of eminent domain, property required to construct, reconstruct, improve, bett…

The acquisition, construction, reconstruction, improvement, betterment, or extension of any undertaking, and the issuance of bonds in anticipation of the collection of the revenues of such undertaking to provide funds to pay the cost thereof, may be authorized by an ordinance or …

In determining the cost of an undertaking, the governing body may include all cost and estimated cost of the issuance of the revenue bonds, all engineering, inspection, fiscal, and legal expenses, any bond reserves, and the interest which it is estimated will accrue during the co…

The question provided for in section 40-35-06 shall be submitted to the electors on a ballot separate from all other ballots and in substantially the following form: Shall the ______________ (name of municipality) issue revenue bonds in the amount of not to exceed $__________ (ma…

The resolution or ordinance authorizing the issuance of revenue bonds under this chapter, or ordinances or resolutions adopted subsequent to the adoption of the original resolution or ordinance, shall prescribe: 1. The rate or rates of interest, payable semiannually. 2. Whether t…

Revenue bonds bearing the signatures of the appropriate officers who are in office on the date of the signing thereof shall be valid and binding obligations notwithstanding that before the delivery thereof and payment therefor any or all of the persons whose signatures appear the…

Bonds issued under the provisions of this chapter and the income therefrom shall be exempt from any taxes, except inheritance, estate, and transfer taxes. 40-35-13. Covenants that may be inserted in ordinance or resolution authorizing bonds. Any ordinance or resolution authorizin…

Subject to any contractual limitations binding upon the holders of any issue of revenue bonds, or a trustee therefor, including the restriction of the exercise of any remedy to a specified proportion or percentage of such holders, any holder of bonds, or any trustee therefor, for…

If the municipality shall default in the payment of the principal or interest on any of the revenue bonds after the same shall become due, whether at maturity or upon call for redemption, and such default shall continue for a period of thirty days, or if the municipality or the g…

A receiver appointed under the provisions of section 40-35-16, directly or by the receiver's agents and attorneys, shall enter into and upon and take possession of the undertaking and each and every part thereof immediately and may exclude therefrom the municipality, its governin…

After all that is due upon the revenue bonds, including the interest thereon, and upon any other notes, bonds, or other obligations, including the interest thereon, which are a charge, lien, or encumbrance on the revenues of the undertaking under any of the terms of any covenants…

In the exercise of the powers conferred upon a receiver by this chapter, a receiver shall act under the direction and supervision of the court by which the receiver was appointed and shall be subject at all times to the orders and decrees of such court and may be removed by it. N…

The powers conferred by this chapter shall be in addition and supplemental to and not in substitution for, and the limitations imposed by this chapter shall not affect the powers conferred by, any other law. Revenue bonds may be issued under this chapter without regard to any oth…

This chapter may be cited as the revenue bond refinancing law.

In this chapter, unless the context or subject matter otherwise requires: 1. "Enterprise" means any work, undertaking, or project which the municipality is authorized to construct and from which the municipality has derived or may derive revenues and for the refinancing of which …

Refunding bonds shall be authorized by resolution of the governing body of a municipality. Such resolution may be adopted at a regular or special meeting, and at the same meeting at which it is introduced, by the affirmative vote of a majority of all of the members of the governi…

The resolution of the governing body authorizing the issuance of refunding bonds may provide: 1. Whether the bonds shall be in one or more series; 2. The date or dates which such bonds shall bear; 3. The time or times, not exceeding the period of usefulness of the enterprise as d…

Refunding bonds bearing the signatures of officers of the municipality in office on the date of the signing thereof shall be valid and binding obligations of the municipality for all purposes, notwithstanding that before the delivery of the bonds any or all of the persons whose s…

Refunding bonds issued under the provisions of this chapter and the income therefrom shall be exempt from any taxes, except inheritance, estate, and transfer taxes. 40-36-08. Provisions that may be inserted in resolution authorizing issuance of refunding bonds. The governing body…

All refunding bonds of the same issue shall be secured equally and ratably, without priority by reason of number, date of bonds, date of sale, date of execution, or date of delivery, by a lien upon the revenues of the enterprise in accordance with the provisions of this chapter a…

Refunding bonds may be sold or exchanged in installments at different times, or an entire issue or series may be sold or exchanged at one time. Any issue or series of refunding bonds may be exchanged in part or sold in part in installments at different times or at one time, and s…

In order that the payment of refunding bonds and interest thereon shall be secured adequately, any municipality issuing refunding bonds pursuant to this chapter, and the proper officers, agents, and employees thereof, shall: 1. Pay or cause to be paid punctually the principal of …

The holders of bonds issued under this chapter, or a trustee for such holders, may exercise any or all of the general remedies provided in section 40-35-15, subject, however, to the restrictions and limitations contained in that section. A receiver for an enterprise may be appoin…

This chapter shall constitute full and complete authority for the issuance of refunding bonds. No procedure or proceedings, publications, notices, consents, approvals, orders, acts, or things by any governing body of any municipality, or of any board, officer, commission, departm…

A municipality, when authorized as provided in this chapter, may levy a tax annually for the purpose of providing a fund for the maintenance or employment of a band for municipal purposes. 40-37-02. Authority for levy initiated by petition - Signatures - Filing - Question submitt…

The governing body of the municipality may provide funding from revenues derived from its general fund levy authority for the maintenance or employment of a band for municipal purposes and may cover the appropriation in its annual general fund tax levy. The amount appropriated fo…

A petition similar to that prescribed in section 40-37-02 may be presented to the governing body at any time asking that the following proposition be submitted to the qualified electors: Shall the power to levy a tax for the maintenance or employment of a band be canceled? The qu…

The governing body of any city or county upon petition of not less than fifty-one percent of the qualified electors of the city or county as determined by the total number of votes cast at the last general election or upon a majority vote of the qualified electors thereof voting …

The board of directors shall have the following powers and duties: 1. To make and adopt such bylaws, rules, and regulations relating to the duties of the officers of the board as may be expedient and not inconsistent with the provisions of this chapter. 2. To make and adopt such …