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Code · North Dakota · Title 57 · Chapter 57-47 — County Deficiency Levy

57-47-04. Funding for loan repayment - Limitation.

117 words·~1 min read·/nd/title-57/chapter-57-47-county-deficiency-levy/57-47-04·

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Upon the issuance of the evidence of indebtedness, the board of county commissioners may provide funding from revenues derived from its general fund levy authority to repay a loan under this chapter and under the terms established with the lender. County revenue from any other source that is not dedicated or obligated may be used to repay, or serve as collateral for, a loan under this chapter. If a county has issued evidence of indebtedness for acquisition of road machinery or equipment, the board of county commissioners may authorize use of funds derived from the county levy under section 24-05-01 to repay the loan, in addition to any other funding for loan repayment available to the county.
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