North Dakota Code 61-40-09 – Default
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If the western area water supply authority defaults on its payment of the principal or interest on the infrastructure revolving loan provided for in section 61-40-14, the Bank of North Dakota shall notify the legislative council, and the state water commission shall provide a payment, subject to budget section approval, to the Bank of North Dakota in an amount of the default as certified to the budget section by the Bank of North Dakota.
Terms Used In North Dakota Code 61-40-09
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See North Dakota Code 1-01-49