N.D. Cent. Code § 40-34-06

Current through 2024 Legislative Session

Section 40-34-06 - Sinking fund for payment of interest and principal

If a service rate is charged to the users of an improvement made under this chapter, a sufficient portion of the moneys collected for such service shall be set aside as a sinking fund for the payment of the interest on the bonds and the principal thereof at maturity, and shall constitute a special fund which shall be used for no other purpose.

N.D.C.C. § 40-34-06