§ 159C-17 – Credit of State not pledged.
159C-17. Credit of State not pledged. Bonds issued under the provisions of this Chapter shall not be deemed to constitute a debt of the State or any political subdivision or any agency thereof or a pledge of the faith and credit of the State or any political subdivision or any such agency, but shall be […]
§ 159C-18 – Bonds eligible for investment.
159C-18. Bonds eligible for investment. Bonds issued by an authority under the provisions of this Chapter are hereby made securities in which all public officers and agencies of the State and all political subdivisions, all insurance companies, trust companies, banking associations, investment companies, executors, administrators, trustees and other fiduciaries may properly and legally invest funds, […]
§ 159C-19 – Revenue refunding bonds.
159C-19. Revenue refunding bonds. (a) Each authority is authorized to provide by resolution for the issuance of refunding bonds of the authority for the purpose of refunding any bonds then outstanding that have been issued under the provisions of this Chapter, including the payment of any redemption premium on them and any interest accrued or […]
§ 159C-20 – No power of eminent domain.
159C-20. No power of eminent domain. No authority shall have any right or power to acquire any property through the exercise of eminent domain or any proceedings in the nature of eminent domain. (1975, c. 800, s. 1.)
§ 159C-5 – General powers.
159C-5. General powers. Each authority shall have all of the powers necessary or convenient to carry out and effectuate the purposes and provisions of this Chapter, including, but without limiting the generality of the foregoing, the powers: (1) To adopt bylaws for the regulation of its affairs and the conduct of its business and to […]
§ 159C-6 – Bonds.
159C-6. Bonds. (a) Each authority is authorized to provide for the issuance, at one time or from time to time, of bonds of the authority for the purpose of paying all or any part of the cost of any project. The principal of, the interest on and any premium payable upon the redemption of the […]
§ 159C-7 – Approval of industrial projects and pollution control projects by Secretary of Commerce.
159C-7. Approval of industrial projects and pollution control projects by Secretary of Commerce. (a) Approval Required. – No bonds may be issued by an authority to finance an industrial project or a pollution control project unless the project for which their issuance is proposed is first approved by the Secretary of Commerce. The authority shall […]
§ 159C-8 – Approval of bonds.
159C-8. Approval of bonds. (a) No bonds may be issued by an authority unless the issuance of the bonds is first approved by the Local Government Commission. The authority shall file an application for approval of its proposed bond issue with the Secretary of the Local Government Commission, and shall notify the Secretary of Commerce […]
§ 159C-9 – Sale of bonds.
159C-9. Sale of bonds. Bonds may be sold in such manner, either at public or private sale, and for such price as the Local Government Commission shall determine to be for the best interests of the authority and effectuate best the purposes of this Chapter irrespective of the interest limitations set forth in G.S. 24-1.1, […]
§ 159C-10 – Location of projects.
159C-10. Location of projects. Except as provided in this section, any project or projects of an authority shall be located within the boundaries of the county for which the authority was created. A portion or portions of any project including, but not limited to, any real or personal property or improvements necessary or convenient for […]