North Carolina General Statutes Chapter 116D Higher Education Bonds

Article 1 - General Provisions.

N.C. Gen. Stat. § 116D-1. Definitions
The following definitions apply in this Chapter: (1) Board of Governors. - The Board of Governors of the University. (2) Capital facility. - Any...
N.C. Gen. Stat. § 116D-2. 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...
N.C. Gen. Stat. § 116D-3. Reports
(a) Board of Governors. - The Board of Governors shall report to the Joint Legislative Commission on Governmental Operations by September 15 of each...
N.C. Gen. Stat. § 116D-4. 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...
N.C. Gen. Stat. § 116D-5. Repealed by Session Laws 2011-43, s. 1, effective April 19, 2011

Article 2 - General Obligation Bonds for Financing Capital Facilities for The University of North Carolina.

N.C. Gen. Stat. § 116D-6. Short title
This Article may be cited as the University Improvement General Obligation Bonds Finance Act. (2000-3, s. 1.2.)
N.C. Gen. Stat. § 116D-7. Definitions
The following definitions apply in this Article: (1) Bonds. - Bonds authorized to be issued under this Article, including refunding bonds. (2) Notes. -...
N.C. Gen. Stat. § 116D-8. 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...
N.C. Gen. Stat. § 116D-9. 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...
N.C. Gen. Stat. § 116D-10. 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...
N.C. Gen. Stat. § 116D-11. 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...
N.C. Gen. Stat. § 116D-12. 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...
N.C. Gen. Stat. § 116D-13. 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...
N.C. Gen. Stat. § 116D-14 through 116D-20. Reserved for future codification purposes

Article 3 - Special Obligation Bonds for Improvements to the Facilities of The University of North Carolina.

N.C. Gen. Stat. § 116D-21. 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...
N.C. Gen. Stat. § 116D-22. Definitions
The following definitions apply in this Article: (1) Existing facilities. - Buildings and facilities then existing that generate income or receipts to the Board...
N.C. Gen. Stat. § 116D-23. 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...
N.C. Gen. Stat. § 116D-24. 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...
N.C. Gen. Stat. § 116D-25. 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...
N.C. Gen. Stat. § 116D-26. 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...
N.C. Gen. Stat. § 116D-27. 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...
N.C. Gen. Stat. § 116D-28. 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...
N.C. Gen. Stat. § 116D-29. 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...
N.C. Gen. Stat. § 116D-30. 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...
N.C. Gen. Stat. § 116D-31. 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...
N.C. Gen. Stat. § 116D-32 through 116D-40. Reserved for future codification purposes

Article 4 - Community Colleges Facilities General Obligation Finance Act.

N.C. Gen. Stat. § 116D-41. Short title
This Article may be cited as the Community College Facilities General Obligation Finance Act. (2000-3, s. 1.2.)
N.C. Gen. Stat. § 116D-42. Definitions
The following definitions apply in this Article: (1) Bonds. - Bonds authorized to be issued under this Article, including refunding bonds. (2) Community college....
N.C. Gen. Stat. § 116D-43. 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 community college...
N.C. Gen. Stat. § 116D-44. Designation of capital facilities and preconditions to bond issuance
The capital facilities to be financed in whole or in part with the proceeds of community college general obligation bonds shall be described in...
N.C. Gen. Stat. § 116D-45. 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...
N.C. Gen. Stat. § 116D-46. 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...
N.C. Gen. Stat. § 116D-47. 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...
N.C. Gen. Stat. § 116D-48. 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...
N.C. Gen. Stat. § 116D-49. Procurement of capital facilities
Any laws, rules, or regulations of the State that relate to the acquisition and construction of capital facilities shall apply to the capital facilities...

Last modified: March 23, 2014