§ 160A-550 – Short title.
160A-550. Short title. This Article may be cited as the "Parking Authority Law." (1951, c. 779, s. 1; 1979, 2nd Sess., c. 1247, s. 44.)
§ 160A-551 – Definitions.
160A-551. Definitions. As used or referred to in this Article, unless a different meaning clearly appears from the context: (1) The term "authority" shall mean a public body and a body corporate and politic organized in accordance with this Article for the purposes, with the powers and subject to the restrictions hereinafter set forth; (2) […]
§ 160A-552 – Creation of authority.
160A-552. Creation of authority. The city council of any city may, upon its own initiative, and shall, upon petition of 25 or more residents of the city, hold a public hearing on the question whether or not it is necessary for the city to organize an authority under the provisions of this Article. Notice of […]
§ 160A-553 – Appointment, removal, etc., of commissioners; quorum; chairman; vice-chairman, agents and employees.
160A-553. Appointment, removal, etc., of commissioners; quorum; chairman; vice-chairman, agents and employees. An authority shall consist of five commissioners appointed by the city council, and the city council shall designate the first chairman. No commissioner shall be a city official. The commissioners who are first appointed shall be designated by the city council to serve […]
§ 160A-554 – Duty of authority and commissioners.
160A-554. Duty of authority and commissioners. The authority and its commissioners shall be under a statutory duty to comply or cause compliance strictly with all provisions of this Article and, in addition thereto, with each and every term, provision and covenant in any contract of the authority on its part to be kept or performed. […]
§ 160A-555 – Interested commissioners or employees.
160A-555. Interested commissioners or employees. No commissioner or employee of an authority shall acquire any interest direct or indirect in any parking project or in any property included or planned to be included in any parking project, nor shall he have any interest direct or indirect in any contract or proposed contract for materials or […]
§ 160A-556 – Purpose and powers of the authority.
160A-556. Purpose and powers of the authority. An authority incorporated under this Article shall constitute a public body and a body corporate and politic, exercising public powers as an agency or instrumentality of the city with which it is coterminous. The purpose of the authority shall be to relieve traffic congestion of the streets and […]
§ 160A-557 – Conveyance of property by the city to the authority; acquisition of property by the city or by the authority.
160A-557. Conveyance of property by the city to the authority; acquisition of property by the city or by the authority. (a) The city may convey, with or without consideration, to the authority real and personal property owned by the city for use by the authority as a parking project or projects or a part thereof. […]
§ 160A-558 – Contracts.
160A-558. Contracts. The authority shall let contracts in the manner provided by law for contracts of the city. (1951, c. 779, s. 9; 1979, 2nd Sess., c. 1247, s. 44.)
§ 160A-559 – Moneys of the authority.
160A-559. Moneys of the authority. All moneys of the authority shall be paid to the treasurer of the city as agent of the authority, who shall designate depositories and who shall not commingle such moneys with any other moneys. Such moneys shall be deposited in a separate bank account or accounts. The moneys in such […]
§ 160A-560 – Bonds legal investments for public officers and fiduciaries.
160A-560. Bonds legal investments for public officers and fiduciaries. The bonds are hereby made securities in which all public officers and bodies of this State and all municipalities and municipal subdivisions, all insurance companies and associations and other persons carrying on an insurance business, all banks, bankers, trust companies, savings banks and savings associations, including […]
§ 160A-561 – Exemptions from taxation.
160A-561. Exemptions from taxation. It is hereby found, determined and declared that the creation of the authority and the carrying out of its corporate purposes is in all respects for the benefit of the people of the State of North Carolina, for the improvement of their health, welfare and prosperity, and for the promotion of […]
§ 160A-562 – Tax contract by the State.
160A-562. Tax contract by the State. The State of North Carolina covenants with the purchasers and with all subsequent holders and transferees of bonds issued by the authority pursuant to this Article, in consideration of the acceptance of and payment for the bonds, that the bonds of the authority issued pursuant to this Article and […]
§ 160A-563 – Actions against the authority.
160A-563. Actions against the authority. In every action against the authority for damages, for injuries to real or personal property, or for the destruction thereof, or for personal injuries or death, the complaint shall contain an allegation that at least 30 days have elapsed since the demand, claim or claims upon which such action is […]
§ 160A-564 – Termination of authority.
160A-564. Termination of authority. The city council shall have the authority to terminate the existence of the authority at any time. In the event of such termination, all property and assets of the authority shall automatically become the property of the city and the city shall succeed to all rights, obligations and liabilities of the […]
§ 160A-565 – Inconsistent provisions in other acts superseded.
160A-565. Inconsistent provisions in other acts superseded. Insofar as the provisions of this Article are inconsistent with the provisions of any other act, general or special, the provisions of this Article shall be controlling. This Article shall not repeal or modify any other act providing a different method of financing parking projects in cities, the […]