§ 159B-25 – Refunding bonds.
159B-25. Refunding bonds. (a) A municipality or joint agency is hereby authorized to provide by resolution for the issuance of refunding bonds of the municipality or joint agency for the purpose of refunding any bonds then outstanding which shall have been issued under the provisions of this Chapter, including the payment of any redemption premium […]
§ 159B-26 – Tax exemption.
159B-26. Tax exemption. Bonds shall at all times be free from taxation by the State or any political subdivision or any of their agencies, excepting inheritance or gift taxes, income taxes on the gain from the transfer of the bonds, and franchise taxes. The interest on the bonds is not subject to taxation as income. […]
§ 159B-27 – Taxes; payments in lieu of taxes.
159B-27. Taxes; payments in lieu of taxes. (a) A project jointly owned by municipalities or owned by a joint agency shall be exempt from property taxes; provided, however, that each municipality possessing an ownership share of a project, and a joint agency owning a project, shall, in lieu of property taxes, pay to any governmental […]
§ 159B-28 – Personnel.
159B-28. Personnel. Personnel employed or appointed by a municipality to work on a joint project or for a joint agency shall have the same authority, rights, privileges and immunities (including coverage under the workers’ compensation laws) which the officers, agents and employees of the appointing municipality enjoy within the territory of that municipality, whether within […]
§ 159B-29 – Dissolution of joint agencies.
159B-29. Dissolution of joint agencies. Whenever the governing board of a joint agency and the governing boards of its member municipalities shall by resolution or ordinance determine that the purposes for which the joint agency was formed have been substantially fulfilled and that all bonds theretofore issued and all other obligations theretofore incurred by the […]
§ 159B-30 – Annual reports.
159B-30. Annual reports. Each joint agency shall, following the closing of each fiscal year, submit an annual report of its activities for the preceding year to the governing boards of its member municipalities and to the North Carolina Utilities Commission. Each such report shall set forth in a form prescribed by the North Carolina Utilities […]
§ 159B-30.1 – Additional reports.
159B-30.1. Additional reports. Beginning March 1, 1996, and annually thereafter, each joint agency operating under the authority of Chapter 159B of the General Statutes shall file a report with the chairs of the Senate Appropriations Committee on Agriculture, Natural, and Economic Resources, the chairs of the House of Representatives Appropriations Committee on Agriculture and Natural […]
§ 159B-16.1 – Revenues NCEMPA members.
159B-16.1. Revenues – NCEMPA members. (a) A municipality is hereby authorized to fix, charge and collect rents, rates, fees and charges for electric power and energy and other services, facilities and commodities sold, furnished or supplied through the facilities of its electric system or its interest in any joint project. Before it revises its rates, […]
§ 159B-17 – Revenues other municipalities.
159B-17. Revenues – other municipalities. (a) A municipality is hereby authorized to fix, charge and collect rents, rates, fees and charges for electric power and energy and other services, facilities and commodities sold, furnished or supplied through the facilities of its electric system or its interest in any joint project. For so long as any […]
§ 159B-18 – Trust funds; investment authority.
159B-18. Trust funds; investment authority. (a) Notwithstanding any other provisions of law to the contrary, all moneys received pursuant to the authority of this Chapter, whether as proceeds from the sale of bonds or as revenues, shall be deemed to be trust funds to be held and applied solely as provided in this Chapter. The […]