North Dakota § 17-03-04 - Fund moneys - Eligible uses
Full text of North Dakota North Dakota Century Code § 17-03-04 — Fund moneys - Eligible uses, with citation guidance and answers to common questions.
§ 17-03-04. Fund moneys - Eligible uses
1. a. The fund moneys may be used to participate in an interest rate buydown on a loan to a biodiesel, ethanol, or green diesel production facility or to a value-added operation for the following eligible uses: (1) Purchase or construction of real property. (2) Expansion of facilities. (3) Purchase or installation of equipment, including a biodigester system. b. The loan funds may not be used to refinance any existing debt or for the relocation within this state of the biodiesel, ethanol, or green diesel production facility or the value-added operation. 2. 3. 4. a. The maximum amount from the fund in the interest rate buydown for a biodiesel, ethanol, or green diesel production facility may not exceed five hundred thousand dollars to any single biodiesel, ethanol, or green diesel production facility under this chapter. b. Except as provided in subdivision c, the maximum amount from the fund in the interest rate buydown for a value-added operation may not exceed two hundred fifty thousand dollars to any single value-added operation under this chapter. c. If a value-added operation has reached the limit provided for in subdivision b as a result of any activity other than the purchase or installation of a biodigester, that operation is entitled to receive from the fund up to two hundred fifty thousand dollars as an additional interest rate buydown on the operation's purchase or installation of a biodigester system. The fund participation is limited to the amount required to buy down the interest to five hundred basis points below the national prime interest rate. The Bank of North Dakota shall adopt rules to implement this chapter.
Source: official North Dakota text · Last verified 2026-08-27
Frequently Asked Questions About North Dakota § 17-03-04
What does North Dakota Century Code § 17-03-04 cover?
Section 17-03-04 ("Fund moneys - Eligible uses") is part of the North Dakota Century Code, the codified statutory law of North Dakota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite North Dakota § 17-03-04?
A common citation format is "North Dakota Century Code § 17-03-04" (North Dakota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of North Dakota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the North Dakota official source linked on this page or consult a licensed North Dakota attorney.
How does North Dakota § 17-03-04 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in North Dakota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in North Dakota.