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85 chapters · 1,001 sections in this title.
N.D.C.C. § 40-35-14 Liability of municipality for bonds - Taxing power prohibited - Bond not a lien
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Revenue bonds issued under this chapter shall not be payable from nor charged upon any funds other than the revenue pledged to the payment thereof, nor shall the municipality issuing the same be subject to any pecuniary liability thereon. No holder or holders of any such bonds sh…
N.D.C.C. § 40-35-15 Remedies of bondholders in general
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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…
N.D.C.C. § 40-35-16 Receiver of undertaking - When appointed
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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…
N.D.C.C. § 40-35-17 Powers and duties of receiver of undertaking
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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…
