N.D. Cent. Code § 61-02-68.1

Current through the 2023 Legislative Sessions

Section 61-02-68.1 - Borrowing on interim notes - Expenses paid and loans made from proceeds - Issuance of notes

The commission, pursuant to appropriate resolution, and in order to carry out the business of developing the water resources of this state as provided in this chapter, may borrow money and issue interim financing notes (the terms "interim notes" or "notes", unless the context otherwise requires, may be used in sections 61-02-68.1 through 61-02-68.19 in lieu of the term "interim financing notes") in evidence thereof in order to provide owners with construction period financing. The construction period financing may include the costs of construction of works or projects, funding of debt service reserves and capitalized interest, and the payment of the costs of issuance.

N.D.C.C. § 61-02-68.1