§ 142-29.2 – Definitions.
142-29.2. Definitions. The words and phrases defined in this section shall have the meanings indicated when used in this Article, unless the context clearly requires another meaning: (1) "Authorized investments" means a. Direct obligations of the United States government, b. Obligations the principal of and the interest on which are guaranteed by the United States […]
§ 142-12.1 – Effect of federal taxation of interest income on state or local bonds on issuance thereof; continuation of state tax exemptions.
142-12.1. Effect of federal taxation of interest income on state or local bonds on issuance thereof; continuation of state tax exemptions. (a) It is hereby found, determined and declared that: (1) From time to time bills have been introduced in the United States Congress providing that the interest on all or certain state and municipal […]
§ 142-13 – Destruction of canceled bonds, notes and coupons.
142-13. Destruction of canceled bonds, notes and coupons. All canceled bonds, notes and interest coupons of the State may be destroyed in one of the following ways, in the discretion of the Treasurer: (1) Method 1. The Treasurer shall make an entry in a substantially bound book kept by him for the purpose of recording […]
§ 142-14 – Issuance of temporary bonds.
142-14. Issuance of temporary bonds. Whenever the State Treasurer shall be authorized by law to issue bonds or notes of the State, and all acts, conditions and things required by law to happen, exist and be performed, before the delivery thereof for value, shall have happened, shall exist and shall have been performed, except the […]
§ 142-15 – Reimbursement of Treasurer for interest.
142-15. Reimbursement of Treasurer for interest. Whenever it shall become necessary for the State Treasurer to borrow money to provide the maintenance fund for any State institution, the said Treasurer is authorized to deduct from the sum appropriated for maintenance of said institution the amount of interest the Treasurer shall have to pay for the […]
§ 142-15.1 – Lost, stolen, defaced, or destroyed State bonds.
142-15.1. Lost, stolen, defaced, or destroyed State bonds. (a) If lost, stolen, or completely destroyed, any State bond, note, or coupon may be reissued in the same form and tenor upon the owner’s furnishing to the satisfaction of the State Treasurer: (1) Proof of ownership, (2) Proof of loss or destruction, (3) A surety bond […]
§ 142-15.3 – Capital appreciation bonds.
142-15.3. Capital appreciation bonds. (a) Cross-Reference. – The provisions of G.S. 159-99 govern capital appreciation bonds. (b) Authorization. – The State is authorized to issue capital appreciation bonds pursuant to the provisions of The State and Local Government Revenue Bond Act. The State is authorized to issue capital appreciation bonds pursuant to the provisions of […]
§ 142-15.4 – Savings from refinancing of general obligation bonds to be placed in the Savings Reserve.
142-15.4. Savings from refinancing of general obligation bonds to be placed in the Savings Reserve. (a) Whenever general obligation bonds issued or incurred by the State are refinanced: (1) The General Assembly shall not reduce the funds appropriated for servicing the refinanced debt during the fiscal biennium in which the refinancing occurs. (2) The State […]
§ 142-15.15 – Findings.
142-15.15. Findings. The General Assembly hereby finds as follows: (1) From time to time, the General Assembly has authorized the State and State entities to acquire or lease assets and has structured the acquisition or leasing of those assets in ways that obligate the State to make payments similar to the obligation of the State […]
§ 142-15.16 – Definitions.
142-15.16. Definitions. The following definitions apply in this Article: (1) Financing arrangement. – An installment financing arrangement, lease-purchase arrangement, arrangement under which funds are to be paid in the future based upon the availability of an asset, or any similar arrangement in the nature of a financing having a term (including renewal options) of greater […]