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ND HB1484
Bill
Status
1/18/2021
Primary Sponsor
Cole Christensen
Click for details
AI Summary
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Amends section 21-03-06 of the North Dakota Century Code to require a two-thirds vote of qualified county electors before bonds can be issued for county buildings and land acquisition.
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Maintains existing debt limits for county bond purposes: 5% of taxable property value for buildings/land, 1% for bridges, and 4% for highways.
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Preserves all existing bonding authority for counties, cities, school districts, townships, park districts, recreation service districts, and rural fire protection districts for specified capital projects.
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Specifies eligible uses for municipal bonds including infrastructure (water, sewer, roads), public buildings, emergency equipment, parks, and flood control projects.
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Establishes requirements for refunding bonds, including escrow deposit procedures and restrictions on eligible securities for investment.
Legislative Description
County bonding authority.
Last Action
Second reading, failed to pass, yeas 6 nays 87
2/23/2021