(1) To sue and be sued in its corporate name in any court orbefore any administrative agency of the State or of the United States, and toenter into agreements with the United States Department of Agriculture or anyother legally constituted State or federal agency, or with any county, city ortown in the furtherance of the purposes of this Article.
(2) To plan, build, construct, or cause to be built orconstructed, or to purchase, lease or acquire the use of any warehouses orother facilities that may be necessary for the successful operation by theAuthority of wholesale markets for products of the home, farm, sea and forestat chosen points in North Carolina. The Authority may make such contracts asmay be needed for these purposes. In no case shall the Authority be responsiblefor any rent except from the income of the market in excess of other operatingexpenses. The Authority may select and employ for each market capable managers,who shall be familiar with the problems of the grower and the distributor, andof the marketing of farm products, and who shall have the business ability andtraining to operate a market and to plan for its proper development and growthin order best to serve the interests of producers, distributors, consumers inthe area, and the general public. The managers may employ assistants and agentswith the approval of the Authority. The Authority may make such regulations aswill promote the policy of this Article, as to the manner in which the marketsshall be operated, the business conducted, and stalls sublet to dealers.
(3) To fix the terms upon which individual, cooperative orcorporate wholesale merchants, warehouses or warehousemen may place their facilitiesor services under the supervision and regulation of the Authority. TheAuthority may extend to any such wholesale merchants, warehouses orwarehousemen marketing benefits in the form of inspection, market informationaland news service and may make regulations as to the operation of suchfacilities or services and as to forms, reports, handling, grades, weights,packages, labels, and other standards for the products handled by suchmerchants, warehouses or warehousemen.
(4) To fix rentals and charges for each type of service orfacility in the markets under its control, taking into consideration the costof such facility or service, the interest and amortization period required, aproper relationship between types of operators in the market, cost ofoperation, and the need for reasonable reserves for repairs, depreciation,expansion, and similar items. These rentals and charges shall not bring anyprofit to any agency over and above the costs of operation, necessary reserves,and debt service.
(5) To issue permits to itinerant dealers in intrastatecommerce, who express a willingness to come under the program of the StateMarketing Authority. Such permits shall enable the holders to solicit ordersand to buy and sell produce under the rules and regulations of the Authorityand in conformance with G.S. 106‑185 to 106‑196 and notinconsistent with the United States Perishable Agricultural Commodities Act,1930 (46 Stat. 531).
(6) To issue bonds and other securities to obtain funds toacquire, construct, and equip warehouses to be used in carrying out thepurposes of this Article. The bonds shall be entitled "North CarolinaMarketing Authority Bonds" and shall be issued in such form anddenominations and shall mature at such time or times, not exceeding 30 yearsafter their date, and shall bear such interest, not exceeding five percent (5%)per annum, payable either annually or semiannually, as the Authority shalldetermine. They shall be signed by the chairman of the Authority, and thecorporate seal affixed or impressed upon each bond and attested by thesecretary‑treasurer of the Authority. The coupons shall bear thefacsimile signature of the chairman officiating when the bonds are issued. Anyissue of these bonds and notes may be sold publicly, or at private sale for notless than par to the Reconstruction Finance Corporation or other State orfederal agency or may be given in exchange to any county, city, town orindividual for the lease or purchase of property to be used by the Authority.To secure such indebtedness, the Authority may give mortgages or deeds oftrust, executed in the same manner as the bonds, on the property purchased oracquired, and may pledge the revenues from the markets in excess of operatingexpenses, interest and insurance: Provided, that each market shall be operatedon a separate financial basis, and only such revenues and properties of eachseparate market shall be liable for the obligations of that market. Noobligations incurred by the Authority shall be obligations of the State ofNorth Carolina or any of its political subdivisions, or a burden on thetaxpayers of the State or any political subdivision. This does not prevent theState or any of its agencies, departments or institutions, or any private orpublic agency from making a contribution to the Authority, in money or servicesor otherwise.
Bonds and notes issued under this Article shall beexempt from all State, county or municipal taxes or assessments of any kind;the interest shall not be taxable as income, nor shall the notes, bonds, norcoupons be taxable as part of the surplus of any bank, trust company or othercorporation.
Any resolution or resolutions authorizing any bondsshall contain provisions which shall be a part of the contract with the holdersof the bonds, as to:
a. Pledging the fees, rentals, charges, dues, tolls, andinspection and sales fees, and other revenues to secure payment of the bonds;
b. The rates of the fees or tolls to be charged for the use ofthe facilities of the warehouse or warehouses, and the use and disposition ofthe revenues from its operation;
c. The setting aside of reserves or working funds, and theregulation and disposition thereof;
d. Limitations on the purposes to which the proceeds of sale ofany issue of bonds may be applied;
e. Limitations on the issuance of additional bonds; and
f. The procedure, if any, by which the terms of any contractwith bondholders may be amended or abrogated, the amount of bonds the holdersof which must consent thereto, and the manner in which such consent may begiven.
(7) To accept grants in aid or free work.
(8) To adopt, use and alter a corporate seal.
(9) To dispossess tenants for nonpayment of rent and for failureto abide by the regulations of the Authority.
(10) To hire necessary agents, engineers, and attorneys, and to doall things necessary to carry out the powers granted by this Article. (1941, c. 39, s. 3.)
(1) To sue and be sued in its corporate name in any court orbefore any administrative agency of the State or of the United States, and toenter into agreements with the United States Department of Agriculture or anyother legally constituted State or federal agency, or with any county, city ortown in the furtherance of the purposes of this Article.
(2) To plan, build, construct, or cause to be built orconstructed, or to purchase, lease or acquire the use of any warehouses orother facilities that may be necessary for the successful operation by theAuthority of wholesale markets for products of the home, farm, sea and forestat chosen points in North Carolina. The Authority may make such contracts asmay be needed for these purposes. In no case shall the Authority be responsiblefor any rent except from the income of the market in excess of other operatingexpenses. The Authority may select and employ for each market capable managers,who shall be familiar with the problems of the grower and the distributor, andof the marketing of farm products, and who shall have the business ability andtraining to operate a market and to plan for its proper development and growthin order best to serve the interests of producers, distributors, consumers inthe area, and the general public. The managers may employ assistants and agentswith the approval of the Authority. The Authority may make such regulations aswill promote the policy of this Article, as to the manner in which the marketsshall be operated, the business conducted, and stalls sublet to dealers.
(3) To fix the terms upon which individual, cooperative orcorporate wholesale merchants, warehouses or warehousemen may place their facilitiesor services under the supervision and regulation of the Authority. TheAuthority may extend to any such wholesale merchants, warehouses orwarehousemen marketing benefits in the form of inspection, market informationaland news service and may make regulations as to the operation of suchfacilities or services and as to forms, reports, handling, grades, weights,packages, labels, and other standards for the products handled by suchmerchants, warehouses or warehousemen.
(4) To fix rentals and charges for each type of service orfacility in the markets under its control, taking into consideration the costof such facility or service, the interest and amortization period required, aproper relationship between types of operators in the market, cost ofoperation, and the need for reasonable reserves for repairs, depreciation,expansion, and similar items. These rentals and charges shall not bring anyprofit to any agency over and above the costs of operation, necessary reserves,and debt service.
(5) To issue permits to itinerant dealers in intrastatecommerce, who express a willingness to come under the program of the StateMarketing Authority. Such permits shall enable the holders to solicit ordersand to buy and sell produce under the rules and regulations of the Authorityand in conformance with G.S. 106‑185 to 106‑196 and notinconsistent with the United States Perishable Agricultural Commodities Act,1930 (46 Stat. 531).
(6) To issue bonds and other securities to obtain funds toacquire, construct, and equip warehouses to be used in carrying out thepurposes of this Article. The bonds shall be entitled "North CarolinaMarketing Authority Bonds" and shall be issued in such form anddenominations and shall mature at such time or times, not exceeding 30 yearsafter their date, and shall bear such interest, not exceeding five percent (5%)per annum, payable either annually or semiannually, as the Authority shalldetermine. They shall be signed by the chairman of the Authority, and thecorporate seal affixed or impressed upon each bond and attested by thesecretary‑treasurer of the Authority. The coupons shall bear thefacsimile signature of the chairman officiating when the bonds are issued. Anyissue of these bonds and notes may be sold publicly, or at private sale for notless than par to the Reconstruction Finance Corporation or other State orfederal agency or may be given in exchange to any county, city, town orindividual for the lease or purchase of property to be used by the Authority.To secure such indebtedness, the Authority may give mortgages or deeds oftrust, executed in the same manner as the bonds, on the property purchased oracquired, and may pledge the revenues from the markets in excess of operatingexpenses, interest and insurance: Provided, that each market shall be operatedon a separate financial basis, and only such revenues and properties of eachseparate market shall be liable for the obligations of that market. Noobligations incurred by the Authority shall be obligations of the State ofNorth Carolina or any of its political subdivisions, or a burden on thetaxpayers of the State or any political subdivision. This does not prevent theState or any of its agencies, departments or institutions, or any private orpublic agency from making a contribution to the Authority, in money or servicesor otherwise.
Bonds and notes issued under this Article shall beexempt from all State, county or municipal taxes or assessments of any kind;the interest shall not be taxable as income, nor shall the notes, bonds, norcoupons be taxable as part of the surplus of any bank, trust company or othercorporation.
Any resolution or resolutions authorizing any bondsshall contain provisions which shall be a part of the contract with the holdersof the bonds, as to:
a. Pledging the fees, rentals, charges, dues, tolls, andinspection and sales fees, and other revenues to secure payment of the bonds;
b. The rates of the fees or tolls to be charged for the use ofthe facilities of the warehouse or warehouses, and the use and disposition ofthe revenues from its operation;
c. The setting aside of reserves or working funds, and theregulation and disposition thereof;
d. Limitations on the purposes to which the proceeds of sale ofany issue of bonds may be applied;
e. Limitations on the issuance of additional bonds; and
f. The procedure, if any, by which the terms of any contractwith bondholders may be amended or abrogated, the amount of bonds the holdersof which must consent thereto, and the manner in which such consent may begiven.
(7) To accept grants in aid or free work.
(8) To adopt, use and alter a corporate seal.
(9) To dispossess tenants for nonpayment of rent and for failureto abide by the regulations of the Authority.
(10) To hire necessary agents, engineers, and attorneys, and to doall things necessary to carry out the powers granted by this Article. (1941, c. 39, s. 3.)
(1) To sue and be sued in its corporate name in any court orbefore any administrative agency of the State or of the United States, and toenter into agreements with the United States Department of Agriculture or anyother legally constituted State or federal agency, or with any county, city ortown in the furtherance of the purposes of this Article.
(2) To plan, build, construct, or cause to be built orconstructed, or to purchase, lease or acquire the use of any warehouses orother facilities that may be necessary for the successful operation by theAuthority of wholesale markets for products of the home, farm, sea and forestat chosen points in North Carolina. The Authority may make such contracts asmay be needed for these purposes. In no case shall the Authority be responsiblefor any rent except from the income of the market in excess of other operatingexpenses. The Authority may select and employ for each market capable managers,who shall be familiar with the problems of the grower and the distributor, andof the marketing of farm products, and who shall have the business ability andtraining to operate a market and to plan for its proper development and growthin order best to serve the interests of producers, distributors, consumers inthe area, and the general public. The managers may employ assistants and agentswith the approval of the Authority. The Authority may make such regulations aswill promote the policy of this Article, as to the manner in which the marketsshall be operated, the business conducted, and stalls sublet to dealers.
(3) To fix the terms upon which individual, cooperative orcorporate wholesale merchants, warehouses or warehousemen may place their facilitiesor services under the supervision and regulation of the Authority. TheAuthority may extend to any such wholesale merchants, warehouses orwarehousemen marketing benefits in the form of inspection, market informationaland news service and may make regulations as to the operation of suchfacilities or services and as to forms, reports, handling, grades, weights,packages, labels, and other standards for the products handled by suchmerchants, warehouses or warehousemen.
(4) To fix rentals and charges for each type of service orfacility in the markets under its control, taking into consideration the costof such facility or service, the interest and amortization period required, aproper relationship between types of operators in the market, cost ofoperation, and the need for reasonable reserves for repairs, depreciation,expansion, and similar items. These rentals and charges shall not bring anyprofit to any agency over and above the costs of operation, necessary reserves,and debt service.
(5) To issue permits to itinerant dealers in intrastatecommerce, who express a willingness to come under the program of the StateMarketing Authority. Such permits shall enable the holders to solicit ordersand to buy and sell produce under the rules and regulations of the Authorityand in conformance with G.S. 106‑185 to 106‑196 and notinconsistent with the United States Perishable Agricultural Commodities Act,1930 (46 Stat. 531).
(6) To issue bonds and other securities to obtain funds toacquire, construct, and equip warehouses to be used in carrying out thepurposes of this Article. The bonds shall be entitled "North CarolinaMarketing Authority Bonds" and shall be issued in such form anddenominations and shall mature at such time or times, not exceeding 30 yearsafter their date, and shall bear such interest, not exceeding five percent (5%)per annum, payable either annually or semiannually, as the Authority shalldetermine. They shall be signed by the chairman of the Authority, and thecorporate seal affixed or impressed upon each bond and attested by thesecretary‑treasurer of the Authority. The coupons shall bear thefacsimile signature of the chairman officiating when the bonds are issued. Anyissue of these bonds and notes may be sold publicly, or at private sale for notless than par to the Reconstruction Finance Corporation or other State orfederal agency or may be given in exchange to any county, city, town orindividual for the lease or purchase of property to be used by the Authority.To secure such indebtedness, the Authority may give mortgages or deeds oftrust, executed in the same manner as the bonds, on the property purchased oracquired, and may pledge the revenues from the markets in excess of operatingexpenses, interest and insurance: Provided, that each market shall be operatedon a separate financial basis, and only such revenues and properties of eachseparate market shall be liable for the obligations of that market. Noobligations incurred by the Authority shall be obligations of the State ofNorth Carolina or any of its political subdivisions, or a burden on thetaxpayers of the State or any political subdivision. This does not prevent theState or any of its agencies, departments or institutions, or any private orpublic agency from making a contribution to the Authority, in money or servicesor otherwise.
Bonds and notes issued under this Article shall beexempt from all State, county or municipal taxes or assessments of any kind;the interest shall not be taxable as income, nor shall the notes, bonds, norcoupons be taxable as part of the surplus of any bank, trust company or othercorporation.
Any resolution or resolutions authorizing any bondsshall contain provisions which shall be a part of the contract with the holdersof the bonds, as to:
a. Pledging the fees, rentals, charges, dues, tolls, andinspection and sales fees, and other revenues to secure payment of the bonds;
b. The rates of the fees or tolls to be charged for the use ofthe facilities of the warehouse or warehouses, and the use and disposition ofthe revenues from its operation;
c. The setting aside of reserves or working funds, and theregulation and disposition thereof;
d. Limitations on the purposes to which the proceeds of sale ofany issue of bonds may be applied;
e. Limitations on the issuance of additional bonds; and
f. The procedure, if any, by which the terms of any contractwith bondholders may be amended or abrogated, the amount of bonds the holdersof which must consent thereto, and the manner in which such consent may begiven.
(7) To accept grants in aid or free work.
(8) To adopt, use and alter a corporate seal.
(9) To dispossess tenants for nonpayment of rent and for failureto abide by the regulations of the Authority.
(10) To hire necessary agents, engineers, and attorneys, and to doall things necessary to carry out the powers granted by this Article. (1941, c. 39, s. 3.)
