N.D. Cent. Code § 61-09-08

Current through 2024 Legislative Session

Section 61-09-08 - Board to levy assessment against lands of district - Amount - How determined

The board then shall levy an assessment against the lands of the district sufficient to:

1. Pay the interest on outstanding bonds and improvement warrants;

2. Create a sinking fund to retire outstanding bonds and improvement warrants at maturity; and

3. Pay any and all obligations of the district due, or to become due during the ensuing year, including payments due, or to become due, under any contract with the United States, or with any department or agency thereof, or under any contract with the state water commission, or with any person, firm, corporation, or limited liability company, or with another irrigation district.

In determining the total of such levy, the board shall take into consideration revenue derived from sources other than that obtained from the assessment and taxation of district lands. The secretary of the board shall compute and enter in separate columns of the assessment record the respective sums in dollars and cents required for each purpose, and each purpose shall be denominated a fund.

N.D.C.C. § 61-09-08