N.D. Cent. Code § 40-57-09

Current through 2024 Legislative Session

Section 40-57-09 - Provisions governing revenue bonds

The resolution or ordinance authorizing the issuance of revenue bonds under this chapter, or ordinance or resolution adopted subsequent to the adoption of the original resolution or ordinance, shall prescribe:

1. The rate or rates of interest which such bonds shall bear;

2. Whether the bonds shall be in one or more series;

3. The date or dates which such bonds shall bear;

4. The time or times, not exceeding forty years from their respective dates, when such bonds shall mature;

5. The medium in which such bonds shall be payable;

6. The place or places where such bonds shall be payable;

7. Whether or not such bonds shall carry registration privileges, and what such privileges, if any, shall be;

8. The terms of redemption, if any, to which such bonds shall be subject;

9. The manner in which such bonds shall be executed;

10. The terms, covenants, and conditions which such bonds shall contain; and

11. The form, either coupon or registered, in which such bonds shall be issued.

N.D.C.C. § 40-57-09