North Carolina General Statutes § 143B-472.104 Small Business Contract Financing Fund

(a)        Creation and Use. - The Small Business Contract Financing Fund is created as a special revenue fund. Revenue in the Fund does not revert at the end of a fiscal year, and interest and other investment income earned by the Fund accrues to the Fund. The Authority shall use the Fund to make direct loans and guaranty payments required by defaults and to pay the portion of the administrative expenses of the Authority related to making these loans and payments.

(b)        Content. - The Small Business Contract Financing Fund consists of all of the following revenue:

(1)        Funds appropriated to the Fund by the State.

(2)        Repayments of principal of and interest on direct loans.

(3)        Premiums, fees, and any other amounts received by the Authority with respect to financial assistance provided by the Authority.

(4)        Proceeds designated by the Authority from the sale, lease, or other disposition of property or contracts held or acquired by the Authority.

(5)        Investment income of the Fund.

(6)        Any other moneys made available to the Fund. (2007-441, s. 1.)

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Last modified: March 23, 2014