N.D. Cent. Code § 40-61-12

Current through 2024 Legislative Session

Section 40-61-12 - State and city not liable on bonds - Exceptions as to cities

The bonds and other obligations of an authority shall not be a debt of the state of North Dakota and the state shall not be liable thereon. The bonds and other obligations of an authority shall not be a debt of a city and a city shall not be liable thereon unless a city agrees to assist in financing projects and facilities through the issuance of municipal bonds or other obligations which are considered to be a part of the debt of the city as provided in section 40-61-03.1.

N.D.C.C. § 40-61-12