40-34-08. Tax levy to pay deficiency when bonds become due

40-34-08. Tax levy to pay deficiency when bonds become due If the last maturing bonds secured by a first mortgage or deed of trust on an improvement, as provided in this chapter, are not paid when they become due, and if a deficiency remains, the governing body of the municipality, or the respective governing bodies of the municipalities, shall levy a tax upon all of the taxable property within the limits of the municipality or municipalities for the payment of such deficiency.