GENERAL ASSEMBLY OF NORTH CAROLINA

1987 SESSION

 

 

CHAPTER 976

SENATE BILL 758

 

AN ACT TO AUTHORIZE REVENUE BONDS TO BE ISSUED TO FINANCE FACILITIES FOR AGENCIES OF THE FEDERAL GOVERNMENT.

 

The General Assembly of North Carolina enacts:

 

Section 1.  G.S. 159-81(3) is amended by adding the following new sub-subdivision:

"(n)      Facilities for the use of any agency or agencies of the government of the United States of America."

Sec. 2.  G.S. 159-83 is amended by adding the following new subsection:

"(d) In addition to the powers they may now or hereafter have, the State and each municipality shall have the following powers, notwithstanding any provisions of this Article or any other statute to the contrary, in connection with the development of facilities for the use of any agency or agencies of the government of the United States of America:

(1)       To acquire, construct, own jointly with public and private parties, lease as leasor or leasee, mortgage, sell, or otherwise dispose of lands, facilities and improvements, including undivided interests therein and to do so, regardless of the provisions of any other statute, on such terms (i) in the case of the State, as the Council of State and (ii) in the case of a municipality, as the governing board may deem advisable to carry out the provisions of this subsection;

(2)       To finance and refinance facilities and related improvements for the use of any agency of the government of the United States of America;

(3)       To secure any such financing or refinancing by all or any portion of the revenue, income or assets or other available monies associated with such facilities and improvements to be financed or refinanced, and by foreclosable liens on all or any part of the facilities and improvements to be financed or refinanced, but in no event to create a debt secured by a pledge of its faith and credit."

Sec. 3.  This act is effective upon ratification.

In the General Assembly read three times and ratified this the 27th day of June, 1988.