There is created in the state treasury the Melvin Norgard memorial fund. All income related to a bequest made to the veterans’ home by Melvin Norgard, including mineral lease income, royalties, and sale proceeds, must be transferred or deposited into the Melvin Norgard memorial fund. Notwithstanding any other provision of law, the state treasurer shall invest moneys in the fund in accordance with section 21-10-07. Investment income of the fund must be retained in the fund. Moneys in the fund are available, subject to legislative appropriations, for projects and programs to benefit and serve the residents of the veterans’ home. The legislative assembly shall consider recommendations of the governing board of the veterans’ home when determining appropriations from this fund for projects and programs to benefit and serve the residents of the veterans’ home.

Terms Used In North Dakota Code 37-15-23

  • Bequest: Property gifted by will.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See North Dakota Code 1-01-49

                                

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