§ 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 […]
§ 159-181 – Enforcement of Chapter.
159-181. Enforcement of Chapter. (a) If any finance officer, governing board member, or other officer or employee of any local government or public authority (as local government and public authority are defined in G.S. 159-7(b)) shall approve any claim or bill knowing it to be fraudulent, erroneous, or otherwise invalid, or make any written statement, […]
§ 159-163.1 – Security of project development financing debt instrument anticipation notes.
159-163.1. Security of project development financing debt instrument anticipation notes. Notes issued in anticipation of the sale of project development financing debt instruments are special obligations of the issuing unit. Except as provided in G.S. 159-107 and G.S. 159-110, neither the credit nor the taxing power of the issuing unit may be pledged for the […]
§ 159-164 – Form of notes to be issued.
159-164. Form of notes to be issued. Bond anticipation loans shall be evidenced by negotiable notes in bearer form or by certificated or uncertificated registered public obligations pursuant to the Registered Public Obligations Act. Such notes and certificated registered public obligations are hereby declared to be investment securities within the meaning of Article 8 of […]
§ 159-165 – Sale and delivery of bond anticipation notes.
159-165. Sale and delivery of bond anticipation notes. (a) Bond anticipation notes of a municipality, including special obligation bond anticipation notes issued pursuant to Article 7A of this Chapter, shall be sold by the Commission at public or private sale according to such procedures as the Commission may prescribe. Bond anticipation notes of the State […]
§ 159-168 – "Unit" defined.
159-168. "Unit" defined. For purposes of this Part, "unit," "unit of local government," or "issuing unit" mean a "unit of local government" as defined by G.S. 159-7(b) and a "public authority" as defined by G.S. 159-7(b). (1973, c. 494, s. 40; 1975, c. 674, s. 2.)
§ 159-169 – Tax anticipation notes.
159-169. Tax anticipation notes. (a) A unit of local government having the power to levy taxes is authorized to borrow money for the purpose of paying appropriations made for the current fiscal year in anticipation of the collection of taxes due and payable within the fiscal year, and to issue its negotiable notes in evidence […]