61-40-09. Default

61-40-09. Default If the western area water supply authority defaults on its payment of the principal or interest on the infrastructure revolving loan provided for in section 61-40-14, the Bank of North Dakota shall notify the legislative council, and the state water commission shall provide a payment, subject to budget section approval, to the Bank of North Dakota in an amount of the default as certified to the budget section by the Bank of North Dakota.