North Dakota Code 54-17.7-10 – Disposal of pipeline facilities
1. Before becoming an owner or partial owner of a pipeline facility or acquiring capacity in a pipeline system, the authority shall develop a plan identifying:
Terms Used In North Dakota Code 54-17.7-10
- 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
a. The public purposes of the authority’s ownership or capacity acquisition.
b. Conditions that would make the authority’s ownership no longer necessary for accomplishing those public purposes.
c. A plan to divest the authority’s ownership or capacity interest as soon as economically prudent once those conditions occur.
2. For pipeline facilities that are leased to another entity by the authority at the end of the lease, absent default by the lessee, the authority shall convey its interest in the pipeline facilities to the lessee.
3. For pipeline facilities that are owned by the authority without a lessee, the authority shall divest itself of ownership as soon as economically prudent in accordance with the divestiture plan developed pursuant to subsection 1.