N.D. Cent. Code § 40-29-15
All sidewalk assessment warrants shall be payable as specified and in such amounts as in the judgment of the governing body will be provided by the taxes and assessments. The warrants shall bear interest at a rate or rates and be sold at a price resulting in an average net interest cost not to exceed twelve percent per annum if sold at private sale. There is no interest rate ceiling on warrants sold at public sale or to the state of North Dakota or any of its agencies or instrumentalities. The warrants must state on their face the purpose for which they were issued and from what fund they are payable and must be signed by the executive officer and countersigned by the city auditor under the seal of the municipality. The warrants may be used in making payment on contracts for making the improvements or may be sold for cash at not less than ninety-eight percent of the par value thereof and the proceeds credited to the special fund and used to pay for such improvements.
N.D.C.C. § 40-29-15