N.D. Cent. Code § 6-09.4-07
This is the official text of N.D. Cent. Code § 6-09.4-07, part of North Dakota’s Cent. Code — part of the compiled statutory law of North Dakota, published by the state as "Cent. Code." Browse the sections below, each linked to its official government source.
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6-09.4-07. Powers
Official statutory text
6-09.4-07. Powers
The public finance authority has the following powers:
1. To sue and be sued.
2. To make and enforce bylaws, rules, and regulations for the conduct of its affairs and
business and for use of its services.
3. To acquire, hold, use, and dispose of its income, revenue, funds, and moneys in
accordance with law, this chapter or chapter 40-57, or legislative appropriations.
4. To acquire, rent, lease, hold, use, and dispose of other personal property for its
purposes.
5. To borrow money and to issue its negotiable bonds or notes and to provide for and
secure the payment thereof and to provide for the rights of the holders thereof, and to
purchase, hold, and dispose of any of its bonds.
6. To fix and revise from time to time and charge and collect fees and charges for the use
of its services or facilities.
7. To do and perform any acts and things authorized by this chapter or chapter 40-57
under, through, or by means of its officers, agents, or employees or by contracts with
any person, firm, or corporation.
8. To make, enter into, and enforce all contracts or agreements necessary, convenient, or
desirable for the purposes of the public finance authority or pertaining to any loan to a
political subdivision or other contracting party or any purchase or sale of municipal
securities or other investments or to the performance of its duties and execution or
carrying out of any of its powers under this chapter or chapter 40-57.
9. To purchase or hold municipal securities of political subdivisions or other contracting
parties at such prices and in such manner as the public finance authority shall deem
advisable, and to sell municipal securities acquired or held by it at such prices without
relation to cost and in such manner as the public finance authority deems advisable.
10. To invest any funds or moneys of the public finance authority not then required for loan
to political subdivisions or other contracting parties and for the purchase of municipal
securities in the same manner as permitted for investment of funds belonging to the
state or the Bank of North Dakota.
11. To fix and prescribe any form of application or procedure to be required of a political
subdivision or other contracting party for the purpose of any loan or the purchase of its
municipal securities, and to fix the terms and conditions of any such loan or purchase
and to enter into agreements with political subdivisions or other contracting parties
with respect to any such loan or purchase.
12. To consider the need, desirability, or eligibility of such loan, the ability of such political
subdivision or other contracting party to secure borrowed money from other sources
and the costs thereof, and the particular public improvement, project, or purpose to be
financed by the municipal securities to be purchased by the public finance authority.
13. To impose and collect charges from a political subdivision or other contracting party for
its costs and services in review or consideration of any proposed loan to a political
subdivision or other contracting party or purchase of municipal securities of such
political subdivision or other contracting party, and to impose and collect charges
therefor whether or not such loan has been made or such municipal securities have
been purchased.
14. To fix and establish any and all terms and provisions with respect to any purchase of
municipal securities by the public finance authority, including dates and maturities of
such bonds, provisions as to redemption or payment prior to maturity, and any and all
other matters which in connection therewith are necessary, desirable, or advisable in
the judgment of the public finance authority.
15. To procure insurance against any losses in connection with its property, operations, or
assets in such amounts and from such insurers as it deems desirable to pay the
premiums on such insurance.
s as to redemption or payment prior to maturity, and any and all
other matters which in connection therewith are necessary, desirable, or advisable in
the judgment of the public finance authority.
15. To procure insurance against any losses in connection with its property, operations, or
assets in such amounts and from such insurers as it deems desirable to pay the
premiums on such insurance.
16. To the extent permitted under its contracts with the holders of bonds of the public
finance authority, to consent to any modification with respect to rates of interest, time,
and payment of any installment of principal or interest, security, or any other term of
bond, contract, or agreement of any kind to which the public finance authority is a
party.
17. To do all acts and things necessary, convenient, or desirable to carry out the powers
expressly granted or necessarily implied in this chapter or chapter 40-57.
18. To do and perform any act and thing authorized by section 54-01-27 or 54-17-36
under, through, or by means of its officers, agents, or employees or by contracts with
any person to assist the state, or any agency or institution of the state, in making,
entering, and enforcing all contracts or agreements necessary, convenient, or
desirable for the purposes of leasing all or part of, or an undivided or other interest in,
property.
The public finance authority has the following powers:
1. To sue and be sued.
2. To make and enforce bylaws, rules, and regulations for the conduct of its affairs and
business and for use of its services.
3. To acquire, hold, use, and dispose of its income, revenue, funds, and moneys in
accordance with law, this chapter or chapter 40-57, or legislative appropriations.
4. To acquire, rent, lease, hold, use, and dispose of other personal property for its
purposes.
5. To borrow money and to issue its negotiable bonds or notes and to provide for and
secure the payment thereof and to provide for the rights of the holders thereof, and to
purchase, hold, and dispose of any of its bonds.
6. To fix and revise from time to time and charge and collect fees and charges for the use
of its services or facilities.
7. To do and perform any acts and things authorized by this chapter or chapter 40-57
under, through, or by means of its officers, agents, or employees or by contracts with
any person, firm, or corporation.
8. To make, enter into, and enforce all contracts or agreements necessary, convenient, or
desirable for the purposes of the public finance authority or pertaining to any loan to a
political subdivision or other contracting party or any purchase or sale of municipal
securities or other investments or to the performance of its duties and execution or
carrying out of any of its powers under this chapter or chapter 40-57.
9. To purchase or hold municipal securities of political subdivisions or other contracting
parties at such prices and in such manner as the public finance authority shall deem
advisable, and to sell municipal securities acquired or held by it at such prices without
relation to cost and in such manner as the public finance authority deems advisable.
10. To invest any funds or moneys of the public finance authority not then required for loan
to political subdivisions or other contracting parties and for the purchase of municipal
securities in the same manner as permitted for investment of funds belonging to the
state or the Bank of North Dakota.
11. To fix and prescribe any form of application or procedure to be required of a political
subdivision or other contracting party for the purpose of any loan or the purchase of its
municipal securities, and to fix the terms and conditions of any such loan or purchase
and to enter into agreements with political subdivisions or other contracting parties
with respect to any such loan or purchase.
12. To consider the need, desirability, or eligibility of such loan, the ability of such political
subdivision or other contracting party to secure borrowed money from other sources
and the costs thereof, and the particular public improvement, project, or purpose to be
financed by the municipal securities to be purchased by the public finance authority.
13. To impose and collect charges from a political subdivision or other contracting party for
its costs and services in review or consideration of any proposed loan to a political
subdivision or other contracting party or purchase of municipal securities of such
political subdivision or other contracting party, and to impose and collect charges
therefor whether or not such loan has been made or such municipal securities have
been purchased.
14. To fix and establish any and all terms and provisions with respect to any purchase of
municipal securities by the public finance authority, including dates and maturities of
such bonds, provisions as to redemption or payment prior to maturity, and any and all
other matters which in connection therewith are necessary, desirable, or advisable in
the judgment of the public finance authority.
15. To procure insurance against any losses in connection with its property, operations, or
assets in such amounts and from such insurers as it deems desirable to pay the
premiums on such insurance.
s as to redemption or payment prior to maturity, and any and all
other matters which in connection therewith are necessary, desirable, or advisable in
the judgment of the public finance authority.
15. To procure insurance against any losses in connection with its property, operations, or
assets in such amounts and from such insurers as it deems desirable to pay the
premiums on such insurance.
16. To the extent permitted under its contracts with the holders of bonds of the public
finance authority, to consent to any modification with respect to rates of interest, time,
and payment of any installment of principal or interest, security, or any other term of
bond, contract, or agreement of any kind to which the public finance authority is a
party.
17. To do all acts and things necessary, convenient, or desirable to carry out the powers
expressly granted or necessarily implied in this chapter or chapter 40-57.
18. To do and perform any act and thing authorized by section 54-01-27 or 54-17-36
under, through, or by means of its officers, agents, or employees or by contracts with
any person to assist the state, or any agency or institution of the state, in making,
entering, and enforcing all contracts or agreements necessary, convenient, or
desirable for the purposes of leasing all or part of, or an undivided or other interest in,
property.
Status: in_force · Read it on the official government site
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