treasurer to issue bonds. Upon receiving the assignments provided for in section 54 -30-02, the state treasurer shall notify the governor, the state auditor, and the secretary of state, each of whom immediately shall inspect them or cause them to be inspected. Thereupon, the state treasurer immediately shall prepare for issue, and the governor and the state treasurer thereafter shall issue, negotiable bonds of North Dakota in an amount not exceeding the principal amount remaining unpaid of the outstanding loans secured by the mortgages so delivered to the state treasurer plus costs of issuance and any reasonably required reserve funds.
‹ Prev All North Dakota sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.