North Carolina Statutes

Chapter 159D The North Carolina Capital Facilities Financing Act

Article 1 - Industrial And Pollution Control Facilities Financing.

  • § 159D-1   Short title
    This Article may be referred to as "The North Carolina Industrial and Pollution Control Facilities Financing Act." (1977, 2nd Sess., c. 1198, s. 1; 1987,...
  • § 159D-2   Legislative findings and purposes
    (a) The General Assembly finds and determines that there exists in the State a critical condition of unemployment and a scarcity of employment opportunities; that...
  • § 159D-3   Definitions
    The following terms, whenever used or referred to in this Article, shall have the following respective meanings, unless a different meaning clearly appears from the...
  • § 159D-4   Repealed by Session Laws 2000-179, s. 2
  • § 159D-4.1   Jurisdiction of the agency
    All actions taken by counties, local officials, the Secretary of State, the State Treasurer, and other interested parties to create and organize The North Carolina...
  • § 159D-5   General powers
    The agency shall have all of the powers necessary or convenient to carry out and effectuate the purposes and provisions of this Article, including all...
  • § 159D-6   Bonds
    (a) The agency is authorized to provide for the issuance, at one time or from time to time, of bonds of the agency for the...
  • § 159D-7   Approval of project by Secretary of Commerce
    (a) Approval Required. No bonds may be issued by the agency pursuant to this Article unless the project for which their issuance is proposed is...
  • § 159D-8   Approval of bonds
    (a) No bonds may be issued by the agency pursuant to this Article unless the issuance is first approved by the Local Government Commission. The...
  • § 159D-9   Sale of bonds
    Bonds issued under this Article may be sold in such manner, either at public or private sale, and for such price as the Local Government...
  • § 159D-10   Location of projects
    Any project of the agency shall be located within the boundaries of the State. Bonds may not be issued to finance any project or group...
  • § 159D-11   Financing agreements
    (a) Every financing agreement shall provide that: (1) Repealed by Session Laws 1987, c. 517, s. 7. (2) The amounts payable under the financing agreement...
  • § 159D-12   Security documents
    (a) Bonds issued under the provisions of this Article may be secured by a security document which may be a trust instrument between the agency...
  • § 159D-13   Trust funds
    Notwithstanding any other provisions of law to the contrary, all money received pursuant to the authority of this Article, whether as proceeds from the sale...
  • § 159D-14   Tax exemption
    The agency is not required to pay any taxes on any project or on any other property owned by the agency under the provisions of...
  • § 159D-15   Construction contracts
    The agency may agree with the prospective operator that all contracts relating to the acquisition, construction, installation and equipping of a project shall be solicited,...
  • § 159D-16   Conflict of interest
    If any officer, commissioner or employee of the agency is interested either directly or indirectly in any contract with the agency, such interest shall be...
  • § 159D-17   Credit of State not pledged
    Bonds issued under the provisions of this Article do not constitute a debt of the State or any political subdivision or a pledge of the...
  • § 159D-18   Bonds eligible for investment
    Bonds issued by the agency under the provisions of this Article are securities in which all public officers and agencies of the State and all...
  • § 159D-19   Revenue refunding bonds
    (a) The agency is authorized to provide by resolution for the issuance of refunding bonds of the agency for the purpose of refunding any bonds...
  • § 159D-20   No power of eminent domain
    The agency shall not have any right or power to acquire any property through the exercise of eminent domain or any proceedings in the nature...
  • § 159D-21   Repealed by Session Laws 2000-179, s. 2
  • § 159D-22   Repealed by Session Laws 2000-179, s. 2
  • § 159D-23   Repealed by Session Laws 2001-218, s. 5
  • § 159D-24   Officers not liable
    No member of the Board of Directors of the agency shall be subject to any personal liability or accountability by reason of the issuance or...
  • § 159D-25   Additional method
    The foregoing sections of this Article provide an additional and alternative method for the doing of the things authorized and are supplemental and additional to...
  • § 159D-26   Liberal construction
    This Article, being necessary for the prosperity and welfare of the State and its inhabitants, shall be liberally construed to effect its purposes. (1977, 2nd...
  • § 159D-27   Inconsistent laws inapplicable
    Insofar as the provisions of this Article are inconsistent with the provisions of any general, special or local laws, or parts thereof, the provisions of...
  • § 159D-28 through 159D-34   Reserved for future codification purposes

Article 2 - Private Capital Facilities Financing Act.

  • § 159D-35   Short title
    This Article shall be known, and may be cited, as the "Private Capital Facilities Finance Act." (1985 (Reg. Sess., 1986), c. 794, s. 1; 1998‑124,...
  • § 159D-36   Legislative findings
    It is declared that for the benefit of the people of the State of North Carolina, the increase of their commerce, welfare and prosperity and...
  • § 159D-37   Definitions
    As used or referred to in this Article, the following words and terms have the following meanings, unless the context clearly indicates otherwise: (1) "Agency"...
  • § 159D-38   Capital facilities finance agency
    (a) There is created a body politic and corporate to be known as "North Carolina Capital Facilities Finance Agency" which shall be constituted a public...
  • § 159D-39   General powers
    The agency shall have all of the powers necessary or convenient to carry out and effectuate the purposes and provisions of this Article, including all...
  • § 159D-40   Criteria and requirements
    (a) In undertaking any project pursuant to this Article, the agency shall be guided by and shall observe the following criteria and requirements listed below....
  • § 159D-41   Procedural requirements
    Any participating institution may submit to the agency, and the agency may consider, a proposal for financing a project using forms and following instructions prescribed...
  • § 159D-42   Operations of projects; agreements of sale on leases; conveyance of interest in projects
    (a) The agency may sell or lease any project to a participating institution for operation and maintenance or lend money to any participating institution to...
  • § 159D-43   Construction contracts
    If the agency determines that the purposes of this Article will be more effectively served, the agency in its discretion may award or cause to...
  • § 159D-44   Credit of State not pledged
    Bonds or notes issued under the provisions of this Article shall not be secured by a pledge of the faith and credit of the State...
  • § 159D-45   Bonds and notes
    (a) The agency is authorized to provide for the issuance, at one time or from time to time, of bonds, or notes in anticipation of...
  • § 159D-46   Trust agreement or resolution
    In the discretion of the agency any bonds or notes issued under the provisions of this Article may be secured by a trust agreement by...
  • § 159D-47   Revenues; pledges of revenues
    (a) The agency is authorized to fix and to collect fees, loan repayments, purchase price payments, rents and charges for the use of any project,...
  • § 159D-48   Trust funds
    Notwithstanding any other provisions of law to the contrary, all moneys received pursuant to the authority of this Article, including fees, loan repayments, purchase price...
  • § 159D-49   Remedies
    Any holder of bonds or notes issued under the provisions of this Article or any coupons appertaining thereto, and the trustee under any trust agreement...
  • § 159D-50   Investment securities
    All bonds, notes and interest coupons issued under this Article are investment securities within the meaning of and for all the purposes of Article 8...
  • § 159D-51   Bonds or notes eligible for investment
    Bonds or notes issued under the provisions of this Article are securities in which all public officers and public bodies of the State and its...
  • § 159D-52   Refunding bonds or notes
    (a) The agency is authorized to provide for the issuance of refunding bonds or notes for the purpose of refunding any bonds or notes then...
  • § 159D-53   Annual report
    The agency shall, promptly following the close of each fiscal year, submit an annual report of its activities under this Article for the preceding year...
  • § 159D-54   Officers not liable
    No member or officer of the agency shall be subject to any personal liability or accountability by reason of the issuance or execution of any...
  • § 159D-55   Tax exemption
    The exercise of the powers granted by this Article will be in all respects for the benefit of the people of the State and will...
  • § 159D-56   Conflict of interest
    If any member, officer or employee of the agency is interested either directly or indirectly, or is an officer or employee of or has an...
  • § 159D-57   Additional method
    The foregoing sections of this Article provide an additional and alternative method for the doing of the things authorized and are supplemental and additional to...
  • § 159D-58 through 159D-64   Reserved for future codification purposes

Article 3 - Life Sciences Revenue Bond Authority.