21-03-09. Initial resolution - Form.
106 words·~1 min read·
/nd/title-21/chapter-21-03-bonds/21-03-09·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Proceedings for the issuance of bonds under the authority of this chapter must be instituted by the adoption of an initial resolution therefor. Such initial resolution must state:
1. The maximum amount of bonds proposed to be issued.
2. The purpose for which they are proposed to be issued.
3. The assessed valuation of all taxable property in the municipality as defined in section
21-03-01.
4. The total amount of bonded indebtedness of the municipality.
5. The amount of outstanding bonds of the municipality issued for a similar purpose.
6. Any other statement of fact deemed advisable by the governing body or voters
proposing the same.