North Carolina · statute · N.C. Gen. Stat. ch. 116D · 34 active provisions
Definitions. The following definitions apply in this Chapter: (1) Board of Governors. - The Board of Governors of the University. (2) Capital facility. - Any one or more of the following for the University or for a community college: a. One or more buildings, utilities, structures, or other facilities or property devel…
General provisions. (a) Signatures. - Should any officer whose signature or facsimile signature appears on securities issued under this Chapter cease to be that officer before the delivery of the securities, the signature or facsimile signature shall nevertheless have the same validity for all purposes as if the office…
Reports. (a) Board of Governors. - The Board of Governors shall report to the Joint Legislative Commission on Governmental Operations by September 15 of each year, and more frequently as the Commission requests, on the following: (1) Repealed by Session Laws 2012-142, s. 9.4(c), effective July 1, 2012. (2) Special Obli…
Minority and historically underutilized business participation. (a) Minority Business Participation. - The goals set by G.S. 143-128 for participation in projects by minority businesses apply to projects funded by the proceeds of bonds or notes issued under this section. The following State agencies shall monitor compl…
Short title. This Article may be cited as the University Improvement General Obligation Bonds Finance Act. (2000-3, s. 1.2.)
Definitions. The following definitions apply in this Article: (1) Bonds. - Bonds authorized to be issued under this Article, including refunding bonds. (2) Notes. - Notes issued under this Article. (3) University improvement general obligation bonds. - Bonds authorized to be issued under this Article, including refundi…
Authorization of bonds and notes. Subject to a favorable vote of a majority of the qualified voters of the State who vote on the question of issuing university improvement general obligation bonds in the election held as provided by law, the State Treasurer may, by and with the consent of the Council of State, issue an…
Designation of capital facilities and preconditions to bond issuance. The capital facilities to be financed in whole or in part with the proceeds of university improvement general obligation bonds shall be set forth in legislation enacted from time to time by the General Assembly. This legislation shall also provide fo…
Faith and credit. The faith and credit and taxing power of the State are hereby pledged for the payment of the principal of and the interest on bonds and notes. The State retains the right to amend any provision of this Article to the extent it does not impair any contractual right of a bond owner. (2000-3, s. 1.2.)
Issuance of bonds and notes. (a) Terms and Conditions. - Bonds or notes may bear any dates, may be serial or term bonds or notes, or any combination of these, may mature in any amounts and at any times, not exceeding 25 years from their dates, may be payable at any places, either within or without the United States, in…
Variable rate demand bonds and notes. (a) In fixing the details of bonds and notes, the State Treasurer may provide that the bonds and notes may: (1) Be made payable from time to time on demand or tender for purchase by the owner, if a credit facility supports the bonds or notes, unless the State Treasurer specifically…
Other agreements. The State Treasurer may authorize, execute, obtain, or otherwise provide for bond insurance, investment contracts, credit and liquidity facilities, interest rate swap agreements and other derivative products, and any other related instruments and matters the State Treasurer determines are desirable in…
Purpose. The purpose of this Article is to authorize the Board of Governors of The University of North Carolina to issue special obligation bonds, payable from obligated resources, but with no pledge of taxes or the faith and credit of the State or any agency or political subdivision of the State, to pay the cost, in w…
Definitions. The following definitions apply in this Article: (1) Existing facilities. - Buildings and facilities then existing that generate income or receipts to the Board of Governors that are pledged, under the provisions of a resolution authorizing the issuance of the special obligation bonds under this Article, t…
Credit and taxing power of State not pledged; statement on face of bonds. Special obligation bonds issued under this Article shall not constitute a debt or liability of the State or any political subdivision of the State or a pledge of the faith and credit of the State or of any political subdivision of the State. Spec…
General powers of Board of Governors. The Board of Governors is authorized, subject to the requirements of this Article, to do all of the following: (1) Determine the location and character of any special obligation bond project, to acquire, construct, and provide the project, and to maintain, repair, and operate and e…
Consultation with the Joint Legislative Commission on Governmental Operations. Whenever this Article requires the approval of the Director of the Budget of an action, the Director of the Budget may consult with the Joint Legislative Commission on Governmental Operations before giving approval. (2000-3, s. 1.2.)
Issuance of special obligation bonds and bond anticipation notes. (a) Authority. - The Board of Governors may issue, subject to the approval of the Director of the Budget, at one time or from time to time, special obligation bonds of the Board of Governors for the purpose of paying all or any part of the cost of acquir…
Trust agreement; money received deemed trust funds; insurance; remedies. (a) Trust Agreement Securing Bonds. - In the discretion of the Board of Governors and subject to the approval of the Director of the Budget, any special obligation bonds issued under this Article may be secured by a trust agreement by and between…
Fixing and collecting obligated resources. (a) Board to Provide Sufficient Resources. - For the purpose of aiding in the financing of a special obligation bond project and to provide security to the owners of the special obligation bonds issued to finance the special obligation bond project, the Board of Governors is a…
Vesting powers in committee. The Board of Governors may authorize its budget and finance committee to sell any special obligation bonds which the Board has, with the approval of the Director of the Budget, authorized to be issued under this Article in any manner and under any limitations or conditions as the Board pres…
Refunding bonds. The Board of Governors may, subject to the approval of the Director of the Budget, issue from time to time refunding bonds for the purpose of refunding any bonds by the Board under this Article or under any Article of Chapter 116 of the General Statutes, including the payment of any redemption premium…
Additional and alternative method. This Article provides an additional and alternative method for the doing of the things authorized and is supplemental and additional to powers conferred by other laws, including G.S. 116-175 to G.S. 116-185, inclusive and G.S. 116-197 and G.S. 116-198, and is not in derogation of or r…
Short title. This Article may be cited as the Community College Facilities General Obligation Finance Act. (2000-3, s. 1.2.)
Definitions. The following definitions apply in this Article: (1) Bonds. - Bonds authorized to be issued under this Article, including refunding bonds. (2) Community college. - Defined in G.S. 115D-2. (3) Community college general obligation bonds. - Bonds authorized to be issued under this Article, including refunding…