North Dakota Code 21-12-01 – Definitions
As used in this chapter, unless the context clearly requires otherwise, the following definitions apply:
Terms Used In North Dakota Code 21-12-01
- 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
- 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
- year: means twelve consecutive months. See North Dakota Code 1-01-33
1. “Ceiling” means the dollar amount applicable to North Dakota for any calendar year for the issuance of tax-exempt private activity bonds, as determined under the Tax Reform Act.
2. “Governmental unit” means any political subdivision of North Dakota or other authority in the state, including the state or any of its agencies, instrumentalities, or authorities, having the authority to issue private activity bonds.
3. “Private activity bond” means a tax-exempt evidence of indebtedness which is a private activity bond under the Tax Reform Act.
4. “Tax Reform Act” means the Tax Reform Act of 1986 [Pub. L. 99-514] and any federal regulations issued thereunder relating to the allocation of North Dakota’s ceiling for the issuance of tax-exempt private activity bonds.