North Dakota Code 40-36-02 – Definitions
In this chapter, unless the context or subject matter otherwise requires:
Terms Used In North Dakota Code 40-36-02
- 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.
- Person: means an individual, organization, government, political subdivision, or government agency or instrumentality. 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
- Statute: A law passed by a legislature.
- United States: includes the District of Columbia and the territories. See North Dakota Code 1-01-49
1. “Enterprise” means any work, undertaking, or project which the municipality is authorized to construct and from which the municipality has derived or may derive revenues and for the refinancing of which refunding bonds are issued under this chapter. “Enterprise” includes all improvements, betterments, extensions, and replacements of such work, undertaking, or project, and all appurtenances, facilities, lands, rights in land, water rights, franchises, and structures in connection therewith or incidental thereto.
2. “Federal agency” includes the United States, the president of the United States, or any agency, instrumentality, or corporation of the United States which has been or may be designated or created by or pursuant to any act or acts or joint resolutions of the Congress of the United States or which may be owned or controlled, directly or indirectly, by the United States.
3. “Holder of bonds” or “bondholder” or any similar term means any person who shall be the bearer of any outstanding refunding bond or refunding bonds registered to bearer or not registered, or the registered owner of any such outstanding bond or bonds which at the time shall be registered other than to bearer.
4. “Law” means any general statute of this state.
5. “Refinancing” means funding, refunding, paying, or discharging, by means of refunding bonds or the proceeds from the sale thereof, all or any part of any notes, bonds, or other obligations issued to finance or to aid in financing the acquisition, construction, or improvement of an enterprise and payable solely from all or any part of the revenue thereof and including interest thereon in arrears or about to become due whether or not such interest is represented by coupons or interest certificates.
6. “Refunding bonds” means notes, bonds, certificates, or other obligations of a municipality issued pursuant to this chapter, or pursuant to any other law as supplemented by, or in conjunction with, this chapter.
7. “Revenues” means all fees, tolls, rates, rentals, and charges levied and collected in connection with, and all other income and receipts of whatever kind or character derived by the municipality from, the operation of any enterprise or arising from any enterprise.
8. Words importing the singular number shall include the plural number and vice versa in each case, and words importing persons shall include firms, corporations, and limited liability companies.