§ 160A-647 – Bonds and notes authorized.
160A-647. Bonds and notes authorized. In addition to the powers granted by this Article, the Authority may issue bonds and notes pursuant to the provisions of The State and Local Government Revenue Bond Act, Article 5 of Chapter 159 of the General Statutes, for the purpose of financing public transportation systems or any part thereof […]
§ 160A-648 – Equipment trust certificates.
160A-648. Equipment trust certificates. In addition to the powers here and before granted, the Authority shall have continuing power to purchase equipment, and in connection therewith execute agreements, leases with or without option to purchase, or equipment trust certificates. All money required to be paid by the Authority under the provisions of such agreements, leases […]
§ 160A-649 – Power of eminent domain.
160A-649. Power of eminent domain. (a) The Authority shall have continuing power to acquire, by gift, grant, devise, exchange, purchase, lease with or without option to purchase, or any other lawful method, including, but not limited to, the power of eminent domain, the fee or any lesser interest in real or personal property for use […]
§ 160A-650 – Tax exemption.
160A-650. Tax exemption. The property of the Authority, both real and personal, its acts, activities, and income shall be exempt from any tax or tax obligation; in the event of any lease of Authority property, or other arrangement which amounts to a leasehold interest, to a private party, this exemption shall not apply to the […]
§ 160A-651 – Removal and relocation of utility structures.
160A-651. Removal and relocation of utility structures. (a) The Authority shall have the power to require any public utility, railroad, or other public service corporation owning or operating any installations, structures, equipment, apparatus, appliances, or facilities in, upon, under, over, across or along any ways on which the Authority has the right to own, construct, […]
§ 160A-641 – Fiscal accountability.
160A-641. Fiscal accountability. An Authority is a public authority subject to the provisions of Chapter 159 of the General Statutes. (1997-393, s. 1.)
§ 160A-642 – Funds.
160A-642. Funds. The establishment and operation of an Authority are governmental functions and constitute a public purpose, and the State of North Carolina and any unit of local government may appropriate funds to support the establishment and operation of the Authority. The State of North Carolina and any unit of local government may also dedicate, […]
§ 160A-643 – Competition.
160A-643. Competition. No equipment of the Authority may be used for charter, tour, or sight-seeing service. (1997-393, s. 1.)
§ 160A-644 – Effect on existing franchises and operations.
160A-644. Effect on existing franchises and operations. Creation of the Authority shall not have an effect on any existing franchises granted by any unit of local government; such existing franchises shall continue in full force and effect until legally terminated; further, all ordinances and resolutions of the unit of local government regulating local public transportation […]
§ 160A-645 – Termination.
160A-645. Termination. The Board of Trustees may terminate the existence of the Authority at any time when it has no outstanding indebtedness. In the event of such termination, all property and assets of the Authority not otherwise encumbered shall automatically become the property of the State of North Carolina, and the State of North Carolina […]