N.D. Cent. Code § 54-17.2-10

Current through 2023 Legislative Sessions

Section 54-17.2-10 - Appropriations and funds from which payments are payable - Commission's power to use or sell facilities for other purposes on nonpayment

A financing agreement must provide that payments due under the financing agreement are payable solely from appropriations to be made by the legislative assembly for such payment, money available to the state not requiring appropriation, money generated from charges made for use of the project, any revenues derived by the commission from the operation of the project, or any combination of such moneys. The financing agreement may provide that the commission upon nonpayment is immediately entitled to the peaceable possession, access, and occupancy of the project and all appurtenances and easements appertaining thereto, and may maintain and operate the project or execute leases for the project or sell the project to political subdivisions of the state or private persons or entities for any purpose.

N.D.C.C. § 54-17.2-10