116-198.31. Purpose of Article. The purpose of this Article is to authorize the Board of Governors of The University of North Carolina to issue revenue bonds, payable from any leases, rentals, charges, fees, and other revenues but with no pledge of taxes or the faith and credit of the State or any agency or political […]
116-198.32. Credit and taxing power of State not pledged; statement on face of bonds. Revenue bonds issued as in this Article provided shall not be deemed to constitute a debt or liability of the State or any political subdivision thereof or a pledge of the faith and credit of the State or of any such […]
116-198.33. Definitions. As used in this Article, the following words and terms shall have the following meanings, unless the context shall indicate another or different meaning or intent: (1) The word "Board" shall mean the Board of Governors of The University of North Carolina. (2) The word "cost" as applied to any project, shall include […]
116-198.34. General powers of Board of Governors. The Board may exercise any one or more of the following powers: (1) To determine the location and character of any project or projects, and to acquire, construct, and provide the same, and to maintain, repair, and operate, and to enter into contracts for the management, lease, use, […]
116-198.35. Issuance of bonds and bond anticipation notes. The Board is hereby authorized to issue, subject to the approval of the Director of the Budget, at one time or from time to time, revenue bonds of the Board for the purpose of paying all or any part of the cost of acquiring, constructing, or providing […]
116-198.36. Proceeds of bonds are deemed trust funds. In the discretion of the Board and subject to the approval of the Director of the Budget, any revenue bonds issued under this Article may be secured by a trust agreement by and between the Board and a corporate trustee (or trustees) which may be any trust […]
116-198.37. Fixing fees, rents, and charges; sinking fund. For the purpose of aiding in the acquisition, construction, or provision of any project and the maintenance, repair, and operation of any project or any existing facilities, the Board is authorized to fix, revise from time to time, charge, and collect such fee or fees for such […]
116-198.38. Refunding bonds. The Board is hereby authorized, subject to the approval of the Director of the Budget, to issue from time to time revenue refunding bonds for the purpose of refunding any revenue bonds or revenue refunding bonds issued by the Board under this Article, including the payment of any redemption premium thereon and […]
116-198.39. Bonds are exempt from taxation. Any bonds issued under this Article shall at all times be exempt from all taxes or assessment, direct or indirect, general or special, whether imposed for the purpose of general revenue or otherwise, which are levied or assessed by the State or by any county, political subdivision, agency, or […]
116-198.40. Article provides additional and alternative method of financing; not exclusive. This Article shall be deemed to provide an additional and alternative method for the doing of the things authorized hereby and shall be regarded as supplemental and additional to powers conferred by other laws, and shall not be regarded as in derogation of or […]
