North Dakota § 40-61-15 - Tax contract by the state
Full text of North Dakota North Dakota Century Code § 40-61-15 — Tax contract by the state, with citation guidance and answers to common questions.
§ 40-61-15. Tax contract by the state
The state of North Dakota covenants with the purchasers and with all subsequent holders and transferees of bonds or notes issued by an authority pursuant to this chapter, in consideration of the acceptance of and payment for the bonds or notes, that the bonds and notes of an authority issued pursuant to this chapter and the income therefrom, and all moneys, funds, and revenues pledged to pay or secure the payment of such bonds or notes shall at all times be free from taxation, except for estate taxes and taxes on transfers by or in contemplation of death.
Source: official North Dakota text · Last verified 2026-08-27
Frequently Asked Questions About North Dakota § 40-61-15
What does North Dakota Century Code § 40-61-15 cover?
Section 40-61-15 ("Tax contract by the state") 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 § 40-61-15?
A common citation format is "North Dakota Century Code § 40-61-15" (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 § 40-61-15 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.