§ 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 […]
§ 159-176 – Commission to aid defaulting units in developing refinancing plans.
159-176. Commission to aid defaulting units in developing refinancing plans. If a unit of local government or municipality (as defined in G.S. 159-44 or 159-81) fails to pay any installment of principal or interest on its outstanding debt on or before the due date (whether the debt is evidenced by general obligation bonds, revenue bonds, […]