37-07.3 National Guard Training Area and Facility Trust Fund - North Dakota Statutes

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CHAPTER 37-07.3NATIONAL GUARD TRAINING AREA AND FACILITY TRUST FUND37-07.3-01. National guard training area and facility development trust fund. Thenational guard training area and facility development trust fund is established as a special fund in
the state treasury. The fund must be used for training area acquisition and facility development
pursuant to this chapter.37-07.3-02.National guard training area and facility development trust fund -Investment and income. The national guard training area and facility development trust fund
consists of moneys transferred or credited to the fund, pursuant to this chapter and provisions of
other laws. The state investment board shall invest the fund as authorized by section 21-10-07.
All interest earned and income received on the investments accrue to the fund.37-07.3-03. Trust fund use. The principal, interest, and income from the national guardtraining area and facility development trust fund must be used by the adjutant general solely for
training area acquisition and facility development; provided, that the principal, and any interest
and income which the fund accrues from July 1, 1985, through June 30, 1989, must be used
solely for the acquisition of land for national guard training purposes and the expenditure, in
conjunction with federal matching funds, for the construction of a new national guard armory on
or adjacent to the military reservation known as Fraine Barracks.37-07.3-04.Payments in lieu of real estate taxes.For land acquired under thischapter, the adjutant general shall make payments in lieu of real estate taxes to the counties in
which the property is located in the same manner and according to the same conditions and
procedures as provided in chapter 57-02.1 for payments in lieu of real estate taxes by the
director of the game and fish department, except no county may receive less in payments under
this section for any parcel or tract of land for any year than the county received in real estate
taxes for the last year in which the land was taxable.Page No. 1Document Outlinechapter 37-07.3 national guard training area and facility trust fund