Bonds may be secured by trust indenture - Powers vested in trustee
N.D. Cent. Code § 61-08-22
in effect61-08-22. Bonds may be secured by trust indenture - Powers vested in trustee
In the discretion of the board, bonds may be secured by a trust indenture by and between
the district and a corporate trustee, which may be any trust company or bank having the powers
of a trust company within or outside this state. The board may vest in the trustee the right to
enforce any covenant made to secure or to pay the bonds.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://ndlegis.gov/cencode/t61c08.pdf#nameddest=61-08-22Fetched: 10/16/2026