N.D. Cent. Code § 15.1-07-09
Current through 2024 Legislative Session
If a school board transfers money into a sinking fund, the board may not consider the money to be cash on hand when computing the budget for the ensuing fiscal year. A school board may not through transfers increase a sinking fund to the extent that the sinking fund is greater than the amount needed to pay the bond issue in full.
N.D.C.C. § 15.1-07-09