The North Dakota Municipal Bond Bank was established on July 1, 1975. Bank of North Dakota (Bank) employees served as authorized officers. On July 1, 1989, the Industrial Commission relocated the Authority outside of the Bank, and established a separate budget for for the Authority.
The Authority, at the direction of the Industrial Commission, once again co-located with the Bank on August 1, 2001. The change from North Dakota Municipal Bond Bank to North Dakota Public Finance Authority occurred on August 1, 2005.
The Industrial Commission of North Dakota, consisting of the Governor, Agriculture Commissioner and Attorney General is charged with the operation, management and control of the Authority.
The Advisory Board is composed of three members appointed by the Industrial Commission. They review all loans and makes recommendations to the Industrial Commission.
To develop rural and urban North Dakota by providing political subdivisions and other qualifying organizations access to flexible and competitive financing options for their local qualifying projects.