North Dakota Code 48-02.1-02 – Private operators
Current as of: 2023 | Check for updates
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Notwithstanding any other provision of law, private operators may construct, improve, rehabilitate, own, lease, manage, and operate fee-based facilities subject to the terms of this chapter. Private operators may mortgage, grant security interests in, and pledge their interests in, for a period not to exceed the length of the development agreement:
Terms Used In North Dakota Code 48-02.1-02
- 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
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
1. Fee-based facilities and their components; 2. Development, leases and concessions, and other related agreements; and
3. Income, profits, and proceeds of the fee-based facility.