§ 40-57-01 Short title
§ 40-57-02 Definitions
§ 40-57-03 Powers of municipality
§ 40-57-04 Resolution authorizing project and the issuance of revenue bonds – Public notice and hearing – No election required
§ 40-57-04.1 Notice to competitors – Authority to issue bonds limited if project would compete with existing enterprises
§ 40-57-05 Approval of public officer not required
§ 40-57-06 Certificate of convenience or necessity not required
§ 40-57-07 Cost of project – How determined
§ 40-57-08 Excess revenues not to revert to general fund of municipality – Exception
§ 40-57-09 Provisions governing revenue bonds
§ 40-57-10 Sale of revenue bonds
§ 40-57-11 Bonds and receipts or certificates issued pending preparation of bonds – Negotiability
§ 40-57-12 Validity of bonds
§ 40-57-13 Bonds exempt from taxation – Exception
§ 40-57-14 Covenants that may be inserted in ordinance or resolution authorizing bonds
§ 40-57-15 Liability of municipality for bonds – Taxing power prohibited – Bond not a lien
§ 40-57-16 Remedies of bondholders in general
§ 40-57-18 Construction
§ 40-57-19.2 Refunding bonds
§ 40-57-20 Declaration and finding of public purpose

Terms Used In North Dakota Code > Chapter 40-57 - Municipal Industrial Development Act

  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Dependent: A person dependent for support upon another.
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • following: when used by way of reference to a chapter or other part of a statute means the next preceding or next following chapter or other part. See North Dakota Code 1-01-49
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • 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
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Property: includes property, real and personal. See North Dakota Code 1-01-49
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • 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
  • Trustee: A person or institution holding and administering property in trust.
  • United States: includes the District of Columbia and the territories. See North Dakota Code 1-01-49
  • week: means seven consecutive days and the word "month" a calendar month. See North Dakota Code 1-01-33
  • written: include "typewriting" and "typewritten" and "printing" and "printed" except in the case of signatures and when the words are used by way of contrast to typewriting and printing. See North Dakota Code 1-01-37