North Dakota Code 54-17.2-19 – Restrictions on obligation stated on face of evidences of indebtedness
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Evidences of indebtedness must state upon their face that they are payable solely from moneys derived by the commission as provided in this chapter. Evidences of indebtedness must state upon their face that they do not constitute an obligation of the state within the meaning of any statutory or constitutional provision.
Terms Used In North Dakota Code 54-17.2-19
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- 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