North Dakota Code 40-34-08 – Tax levy to pay deficiency when bonds become due
Current as of: 2023 | Check for updates
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If the last maturing bonds secured by a first mortgage or deed of trust on an improvement, as provided in this chapter, are not paid when they become due, and if a deficiency remains, the governing body of the municipality, or the respective governing bodies of the municipalities, shall levy a tax upon all of the taxable property within the limits of the municipality or municipalities for the payment of such deficiency.
Terms Used In North Dakota Code 40-34-08
- Deed: The legal instrument used to transfer title in real property from one person to another.
- 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