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North Carolina General Statutes Chapter 116D. Higher Education Bonds § 116D-3. Reports

Current as of January 01, 2023 | Updated by Findlaw Staff

(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(1) Repealed by S.L. 2012-142, § 9.4(c), eff. July 1, 2012.

(2) Special Obligation Bonds.--The Board of Governors shall report on special obligation bonds issued under Article 3 of this Chapter, including the amount of debt, itemized for each institution of the University, by bond issue, and by project. The report shall include schedules of debt service requirements and actual payments, as well as evidence of compliance with additional financial covenants required by bond documents. The report shall identify the trends and current revenue streams of the sources of obligated resources pledged for each bond issue.

(b) Treasurer.--Upon issuance of university improvement general obligation bonds under Article 2 of this Chapter or community college general obligation bonds under Article 4 of this Chapter, the Treasurer shall forward a schedule of required payments of principal and interest over the life of the bonds to the Director of the Budget, with copies to the Joint Legislative Commission on Governmental Operations and the Fiscal Research Division.

(c) Repealed by S.L. 2012-142, § 8.3(b), eff. July 1, 2012.

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Cite this article: FindLaw.com - North Carolina General Statutes Chapter 116D. Higher Education Bonds § 116D-3. Reports - last updated January 01, 2023 | https://codes.findlaw.com/nc/chapter-116d-higher-education-bonds/nc-gen-st-sect-116d-3/

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