(a) This Article may be cited as “The State and Local Government Revenue Bond Act.”
(b) It is the intent of the General Assembly by enactment of this Article to prescribe
a uniform system of limitations upon and procedures for the exercise by all municipalities
in North Carolina of the power to finance revenue bond projects through the issuance
of revenue bonds and notes. To this end, all provisions of special, local, or private acts in effect as of July
1, 1973, authorizing the issuance of bonds or notes secured solely by the revenues
of the projects for which the bonds or notes are issued or prescribing procedures
therefor are repealed. No special, local or private act enacted or taking effect after July 1, 1973, may
be construed to modify, amend, or repeal any portion of this Article unless it expressly
so provides by specific reference to the appropriate section of this Article. It is further the intent of the General Assembly by enactment of this Article to
provide an alternative and supplemental procedure for the exercise by the State of
North Carolina of the power to finance revenue bond projects through the issuance
of revenue bonds and notes.
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
Was this helpful?
Response sent, thank you
Welcome to FindLaw's Cases & Codes
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.