The disorganization of a county shall not affect its liability upon contracts or otherwise and shall not affect the organization of school districts, townships, and municipalities within the territory contained in the disorganized county. The board of county commissioners of the adjoining county to which the disorganized county is attached for judicial, record, and taxation purposes may compromise debts and obligations of the disorganized county existing at the time of the disorganization and may issue bonds or certificates of indebtedness in settlement or compromise of, or to refund, such debts and obligations. Bonds or certificates issued under the provisions of this section shall bear upon their face a statement that the principal and interest to become due thereon shall be paid only from taxes levied upon the property within the disorganized county.

Terms Used In North Dakota Code 11-30-21

  • Organization: includes a foreign or domestic association, business trust, corporation, enterprise, estate, joint venture, limited liability company, limited liability partnership, limited partnership, partnership, trust, or any legal or commercial entity. See North Dakota Code 1-01-49
  • Property: includes property, real and personal. See North Dakota Code 1-01-49
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.

                                            

  Previous section
Next section  
 Chapter 11-30 Contents