§ 159-198 – Severability.
159-198. Severability. If any provision of this Article or its application is held invalid, the invalidity does not affect other provisions or applications of this Article that can be given effect without the invalid provisions or application, and to this end the provisions of this Article are severable. (2003-388, s. 4.)
§ 159-199 – Validation of preexisting swap agreements.
159-199. Validation of preexisting swap agreements. All proceedings taken by the governing bodies of governmental units in connection with the authorization of swap agreements and all swap agreements entered into by governmental units before the effective date of this Article are ratified. (2003-388, s. 4.)
§ 159-200 – Liberal construction.
159-200. Liberal construction. This Article, being necessary for the prosperity and welfare of the State and its inhabitants, shall be liberally construed to effect its purposes. (2003-388, s. 4.)
§ 159-210 – Borrowing authority.
159-210. Borrowing authority. Whenever an airport authority is authorized by general or local act to erect and construct improvements and facilities and to lease these improvements and facilities, the authority may borrow money for use in making and paying for these improvements and facilities, secured by and on the credit only of the lease agreements […]
§ 159-216 – Borrowing authority for landfills.
159-216. Borrowing authority for landfills. (a) Whenever a unit of local government applies to the Commission for approval to enter debt by any method authorized by this Chapter for the purpose of expansion of an existing landfill within their jurisdiction, or construction of a new landfill within their jurisdiction, and to support the repayment of […]
§ 159-195 – Nature of duties of a governmental unit under a swap agreement.
159-195. Nature of duties of a governmental unit under a swap agreement. The duty of a governmental unit to make the payments required and to perform the other duties of the governmental unit under a swap agreement shall constitute a continuing contractual obligation of the governmental unit, enforceable in accordance with applicable law for the […]
§ 159-196 – Approval by Commission.
159-196. Approval by Commission. (a) Approval Required. – If either of the following conditions is met, a governmental unit shall not enter into a swap agreement unless the Commission first approves the governmental unit’s entering into the swap agreement: (1) The unit is a unit of local government as defined in G.S. 159-44, a municipality […]
§ 159-197 – Additional method.
159-197. Additional method. This Article provides an additional and alternative method for the doing of the things authorized by it and is supplemental to powers conferred by other laws. This Article does not derogate any existing powers. (2003-388, s. 4.)
§ 159-177 – Power to require reports and approve budgets.
159-177. Power to require reports and approve budgets. When a refinancing plan has been put into effect pursuant to G.S. 159-176, the Commission shall have authority to require any periodic reports on the unit’s or municipality’s financial affairs (in addition to those otherwise required by law) that the secretary deems necessary, and to approve or […]
§ 159-178 – Duration of Commission's powers.
159-178. Duration of Commission’s powers. The power and authority granted to the Commission in this Article shall continue with respect to a defaulting unit of local government or municipality until the Commission is satisfied that the unit or municipality has performed or will perform the duties required of it in the refinancing plan, and until […]