19.0636.01000
Sixty-sixth
Legislative Assembly HOUSE BILL NO. 1067
of North Dakota
Introduced by
Representative Klemin
1 A BILL for an Act to amend and reenact sections 21-02-11 and 21-03-25 of the North Dakota
2 Century Code, relating to municipal bid requirements and certificates of indebtedness.
3 BE IT ENACTED BY THE LEGISLATIVE ASSEMBLY OF NORTH DAKOTA:
4 SECTION 1. AMENDMENT. Section 21-02-11 of the North Dakota Century Code is
5 amended and reenacted as follows:
6 21-02-11. Advertising for bids - When required - Procedure similar to bond sales.
7 If the governing board of a political subdivision determines to borrow upon certificates of
8 indebtedness, itthe governing board shall follow the procedure and is subject to the penalties
9 prescribed in the provisions relating to the sale of bonds in chapter 21-03. Certificates of
10 indebtedness need not be advertised for bids:
11 1. If they are sold to the state board of university and school lands, the Bank of North
12 Dakota, the public finance authority, or in case other trust funds administered by public
13 officials are invested in them; or
14 2. If they do not exceed the total sum of one hundred thousand dollars.
15 SECTION 2. AMENDMENT. Section 21-03-25 of the North Dakota Century Code is
16 amended and reenacted as follows:
17 21-03-25. Bonds - Advertised for bids - Exception.
18 NoA municipality may not sell or enter into any contract for the sale of any issue of its bonds
19 authorized by this chapter in an amount exceeding one hundred thousandmillion dollars, for
20 whatever purpose issued, without first advertising for bids in the manner prescribed by section
21 21-03-26, except as provided in section 21-03-30, and except that bonds issued under the
22 authorization of subdivision g of subsection 2 of section 21-03-06 with the consent of the
23 warrant holders, may be exchanged for matured warrants or matured interest coupons of
24 warrants of the special improvement fund having the deficiency on account of which such bonds
Page No. 1 19.0636.01000
 Sixty-sixth
Legislative Assembly
1 are being issued, without such advertising. The par value and accrued interest of the bonds so
2 delivered may not exceed the par value and accrued interest of the warrants and interest
3 coupons, and accrued interest thereon, for which they are exchanged.
Page No. 2 19.0636.01000


Statutes affected:
INTRODUCED: 21-02-11, 21-03-25
FIRST ENGROSSMENT: 21-02-11, 21-03-25
Enrollment: 21-02-11, 21-03-25