ND HB1537

Political subdivisions receiving loans from the Public Finance Authority or other state agencies cannot have their services curtailed or limited if their service area is absorbed by another political subdivision during the loan term

Two political subdivisions may negotiate service agreements, but such agreements are invalid unless the Public Finance Authority is a party and the agreement protects timely payment of outstanding bonds

Agreements made before January 1, 2025 that violated these requirements are voidable only at the option of the Public Finance Authority upon 30 days written notice, except for litigation commenced before that date

Declared an emergency measure, taking effect immediately upon passage

Passed with overwhelming bipartisan support: 91-0 in the House, 44-1 in the Senate