North Dakota Code > Chapter 40-35 – Revenue Bond Law


§ 40-35-01	Short title
§ 40-35-02	Undertaking defined
§ 40-35-03	Powers of municipality
§ 40-35-04	Resolution authorizing undertaking and the issuance of revenue bonds
§ 40-35-05	Cost of undertaking – How determined
§ 40-35-06	Issuance of bonds for electric light and power plant – When approval of electors required
§ 40-35-07	Form of ballot – When question submitted
§ 40-35-08	Provisions governing revenue bonds
§ 40-35-09	Sale of revenue bonds – When private sale authorized – Public sale and notice thereof
§ 40-35-10	Bonds and receipts or certificates issued pending preparation of bonds – Negotiability
§ 40-35-11	Validity of bonds
§ 40-35-12	Bonds exempt from taxation – Exception
§ 40-35-13	Covenants that may be inserted in ordinance or resolution authorizing bonds
§ 40-35-14	Liability of municipality for bonds – Taxing power prohibited – Bond not a lien
§ 40-35-15	Remedies of bondholders in general
§ 40-35-16	Receiver of undertaking – When appointed
§ 40-35-17	Powers and duties of receiver of undertaking
§ 40-35-18	Court may direct receiver to surrender possession of undertaking
§ 40-35-19	Receiver subject to jurisdiction of court – Jurisdiction of court
§ 40-35-20	Construction

Terms Used In North Dakota Code > Chapter 40-35 - Revenue Bond Law

Contract: A legal written agreement that becomes binding when signed.
Dependent: A person dependent for support upon another.
Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
following: when used by way of reference to a chapter or other part of a statute means the next preceding or next following chapter or other part. See North Dakota Code 1-01-49
Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
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}
Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
Lien: A claim against real or personal property in satisfaction of a debt.
Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
Person: means an individual, organization, government, political subdivision, or government agency or instrumentality. See North Dakota Code 1-01-49
Property: includes property, real and personal. 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
Trustee: A person or institution holding and administering property in trust.