ND SB2041

Park district governing bodies that constitute distinct municipalities may issue general obligation bonds without voter approval for acquiring, laying out, and improving parks, parkways, boulevards, and pleasure drives.

General obligation bond indebtedness cannot exceed one percent of the assessed valuation of taxable property within the park district.

The park district must publish the initial bond authorization resolution in its official newspaper, and taxable property owners have 60 days to file written protests describing their property.

Bond proceedings are barred if property owners representing 5 percent or more of the total assessed valuation of all taxable property within the district file protests.