§ 116D-41 – Short title.

116D-41. Short title. This Article may be cited as the Community College Facilities General Obligation Finance Act. (2000-3, s. 1.2.)

§ 116D-42 – Definitions.

116D-42. Definitions. The following definitions apply in this Article: (1) Bonds. – Bonds authorized to be issued under this Article, including refunding bonds. (2) Community college. – Defined in G.S. 115D-2. (3) Community college general obligation bonds. – Bonds authorized to be issued under this Article, including refunding bonds. (4) Community Colleges System Office. – […]

§ 116D-43 – Authorization of bonds and notes.

116D-43. Authorization of bonds and notes. Subject to a favorable vote of a majority of the qualified voters of the State who vote on the question of issuing community college general obligation bonds in the election held as provided by law, and upon the application of the Community Colleges System Office, the State Treasurer may, […]

§ 116D-44 – Designation of capital facilities and preconditions to bond issuance.

116D-44. Designation of capital facilities and preconditions to bond issuance. The capital facilities to be financed in whole or in part with the proceeds of community college general obligation bonds shall be described in legislation enacted from time to time by the General Assembly. This legislation shall also provide for voter approval of the bonds […]

§ 116D-45 – Faith and credit.

116D-45. Faith and credit. The faith and credit and taxing power of the State are hereby pledged for the payment of the principal of and the interest on bonds and notes. The State retains the right to amend any provision of this Article to the extent it does not impair any contractual right of a […]

§ 116D-46 – Issuance of bonds and notes.

116D-46. Issuance of bonds and notes. (a) Terms and Conditions. – Bonds or notes may bear any dates, may be serial or term bonds or notes, or any combination of these, may mature in any amounts and at any times, not exceeding 25 years from their dates, may be payable at any places, either within […]

§ 116D-47 – Variable rate demand bonds and notes.

116D-47. Variable rate demand bonds and notes. (a) In fixing the details of bonds and notes, the State Treasurer may provide that the bonds and notes may: (1) Be made payable from time to time on demand or tender for purchase by the owner, if a credit facility supports the bonds or notes, unless the […]

§ 116D-48 – Other agreements.

116D-48. Other agreements. The State Treasurer may authorize, execute, obtain, or otherwise provide for bond insurance, investment contracts, credit and liquidity facilities, interest rate swap agreements and other derivative products, and any other related instruments and matters the State Treasurer determines are desirable in connection with the issuance of bonds or notes. The State Treasurer […]

§ 116D-49 – Procurement of capital facilities.

116D-49. Procurement of capital facilities. Any laws, rules, or regulations of the State that relate to the acquisition and construction of capital facilities shall apply to the capital facilities financed pursuant to this Article. (2000-3, s. 1.2.)