159C-3. Definitions. The following definitions apply in this Chapter: (1) Agency. – Any agency, bureau, commission, department, or instrumentality. (2) Air pollution control facility. – Any structure, equipment, or other facility for, including any increment in the cost of any structure, equipment, or facility attributable to, the purpose of treating, neutralizing, or reducing gaseous industrial […]
159C-4. Creation of authorities. (a) The governing body of any county is hereby authorized to create by resolution a political subdivision and body corporate and politic of the State known as "The __________ (the blank space to be filled in with the name of the county) County Industrial Facilities and Pollution Control Financing Authority," which […]
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. (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. (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. (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. 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, […]
