North Dakota Code 11-11-19.1 – Lease purchase – Building authority
Current as of: 2023 | Check for updates
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Unless a lease purchase or building authority agreement is approved by a vote of the majority of the qualified electors of a county, the governing body of a county may not enter a lease purchase or building authority agreement for the acquisition of any property or construction of any structure having a cost of more than four million dollars.
Terms Used In North Dakota Code 11-11-19.1
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Property: includes property, real and personal. See North Dakota Code 1-01-49