ND HB1193

Amends North Dakota Century Code Section 21-06-07 to expand authorized investment options for counties, cities, school districts, park districts, and townships.

Removes previous language restricting investments to "obligations of the state" and replaces it with a new category allowing state and local securities meeting specific rating requirements.

Permits investments in state and local government general obligation securities rated in the highest three categories by nationally recognized rating agencies, with school district obligations requiring the highest two categories.

Authorizes investments in state housing finance agency obligations rated in the highest two categories and commercial paper from U.S. corporations rated in the highest quality category by at least two rating agencies with maturity of 270 days or less.

Requires purchased securities to be considered in making levies for the ensuing year, with governing boards authorized to convert obligations to cash when funds are needed for current expenses.