Sinking fund - Transfers - Increases

N.D. Cent. Code § 15.1-07-09
in effect
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15.1-07-09. Sinking fund - Transfers - Increases If a school board transfers money into a sinking fund, the board may not consider the money to be cash on hand when computing the budget for the ensuing fiscal year. A school board may not through transfers increase a sinking fund to the extent that the sinking fund is greater than the amount needed to pay the bond issue in full.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://ndlegis.gov/cencode/t15-1c07.pdf#nameddest=15p1-07-09Fetched: 10/16/2026

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