State Codes and Statutes

Statutes > North-carolina > Chapter_116 > GS_116-193

§ 116‑193.  Fixingfees, rents and charges; sinking fund.

For the purpose of aiding in the acquisition, construction or provisionof any project and the maintenance, repair and operation of any project or anyexisting facilities, the Board is authorized to fix, revise from time to time,charge and collect from students enrolled at the institution under itsjurisdiction such student fee or fees for such privileges and services and insuch amount or amounts as the Board shall determine, and to fix, revise fromtime to time, charge and collect other fees, rents and charges for the use ofand for the services furnished or to be furnished by any project or projectsand any existing facilities, or any portion thereof, and admission fees forathletic games and other public events, and to contract with any person,partnership, association or corporation for the lease, use, occupancy oroperation of, or for concessions in, any project or projects and any existingfacilities, or any part thereof, and to fix the terms, conditions, fees, rentsand charges for any such lease, use, occupancy, operation or concession. Solong as bonds issued hereunder and payable therefrom are outstanding, suchfees, rents and charges shall be so fixed and adjusted, with relation to other revenuesavailable therefor, as to provide funds pursuant to the requirements of theresolution or trust agreement authorizing or securing such bonds at leastsufficient with such other revenues, if any, (i) to pay the cost ofmaintaining, repairing and operating any project or projects and any existingfacilities any part of the revenues of which are pledged to the payment of thebonds issued for such project or projects, (ii) to pay the principal of and theinterest on such bonds as the same shall become due and payable, and (iii) tocreate and maintain reserves for such purposes. Such fees, rents and chargesshall not be subject to supervision or regulation by any other commission,board, bureau or agency of the State. A sufficient amount of the revenues, exceptsuch part thereof as may be  necessary to pay such cost of maintenance, repairand operation and to provide such reserves therefor and for renewals,replacements, extensions, enlargements and improvements as may be provided forin the resolution authorizing the issuance of such bonds or in the trustagreement securing the same, shall be set aside at such regular intervals asmay be provided in such resolution or such trust agreement in a sinking fundwhich is hereby pledged to, and charged with, the payment of the principal ofand the interest on such bonds as the same shall become due and the redemptionprice or the purchase price of bonds retired by call or purchase as thereinprovided. Such pledge shall be valid and binding from the time when the pledgeis made, the fees, rents and charges and other revenues or other moneys sopledged and thereafter received by the Board shall immediately be subject tothe lien of such pledge without any physical delivery thereof or further act,and the lien of any such pledge shall be valid and binding as against allparties having claims of any kind in tort, contract or otherwise against theBoard, irrespective of whether such parties have notice thereof. Neither theresolution nor any trust agreement by which a pledge is created need be filedor recorded except in the records of the Board. The use and disposition ofmoneys to the credit of such sinking fund shall be subject to the provisions ofthe resolution authorizing the issuance of such bonds or of the trust agreementsecuring the same. (1963, c. 847, s.7.)

State Codes and Statutes

Statutes > North-carolina > Chapter_116 > GS_116-193

§ 116‑193.  Fixingfees, rents and charges; sinking fund.

For the purpose of aiding in the acquisition, construction or provisionof any project and the maintenance, repair and operation of any project or anyexisting facilities, the Board is authorized to fix, revise from time to time,charge and collect from students enrolled at the institution under itsjurisdiction such student fee or fees for such privileges and services and insuch amount or amounts as the Board shall determine, and to fix, revise fromtime to time, charge and collect other fees, rents and charges for the use ofand for the services furnished or to be furnished by any project or projectsand any existing facilities, or any portion thereof, and admission fees forathletic games and other public events, and to contract with any person,partnership, association or corporation for the lease, use, occupancy oroperation of, or for concessions in, any project or projects and any existingfacilities, or any part thereof, and to fix the terms, conditions, fees, rentsand charges for any such lease, use, occupancy, operation or concession. Solong as bonds issued hereunder and payable therefrom are outstanding, suchfees, rents and charges shall be so fixed and adjusted, with relation to other revenuesavailable therefor, as to provide funds pursuant to the requirements of theresolution or trust agreement authorizing or securing such bonds at leastsufficient with such other revenues, if any, (i) to pay the cost ofmaintaining, repairing and operating any project or projects and any existingfacilities any part of the revenues of which are pledged to the payment of thebonds issued for such project or projects, (ii) to pay the principal of and theinterest on such bonds as the same shall become due and payable, and (iii) tocreate and maintain reserves for such purposes. Such fees, rents and chargesshall not be subject to supervision or regulation by any other commission,board, bureau or agency of the State. A sufficient amount of the revenues, exceptsuch part thereof as may be  necessary to pay such cost of maintenance, repairand operation and to provide such reserves therefor and for renewals,replacements, extensions, enlargements and improvements as may be provided forin the resolution authorizing the issuance of such bonds or in the trustagreement securing the same, shall be set aside at such regular intervals asmay be provided in such resolution or such trust agreement in a sinking fundwhich is hereby pledged to, and charged with, the payment of the principal ofand the interest on such bonds as the same shall become due and the redemptionprice or the purchase price of bonds retired by call or purchase as thereinprovided. Such pledge shall be valid and binding from the time when the pledgeis made, the fees, rents and charges and other revenues or other moneys sopledged and thereafter received by the Board shall immediately be subject tothe lien of such pledge without any physical delivery thereof or further act,and the lien of any such pledge shall be valid and binding as against allparties having claims of any kind in tort, contract or otherwise against theBoard, irrespective of whether such parties have notice thereof. Neither theresolution nor any trust agreement by which a pledge is created need be filedor recorded except in the records of the Board. The use and disposition ofmoneys to the credit of such sinking fund shall be subject to the provisions ofthe resolution authorizing the issuance of such bonds or of the trust agreementsecuring the same. (1963, c. 847, s.7.)


State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_116 > GS_116-193

§ 116‑193.  Fixingfees, rents and charges; sinking fund.

For the purpose of aiding in the acquisition, construction or provisionof any project and the maintenance, repair and operation of any project or anyexisting facilities, the Board is authorized to fix, revise from time to time,charge and collect from students enrolled at the institution under itsjurisdiction such student fee or fees for such privileges and services and insuch amount or amounts as the Board shall determine, and to fix, revise fromtime to time, charge and collect other fees, rents and charges for the use ofand for the services furnished or to be furnished by any project or projectsand any existing facilities, or any portion thereof, and admission fees forathletic games and other public events, and to contract with any person,partnership, association or corporation for the lease, use, occupancy oroperation of, or for concessions in, any project or projects and any existingfacilities, or any part thereof, and to fix the terms, conditions, fees, rentsand charges for any such lease, use, occupancy, operation or concession. Solong as bonds issued hereunder and payable therefrom are outstanding, suchfees, rents and charges shall be so fixed and adjusted, with relation to other revenuesavailable therefor, as to provide funds pursuant to the requirements of theresolution or trust agreement authorizing or securing such bonds at leastsufficient with such other revenues, if any, (i) to pay the cost ofmaintaining, repairing and operating any project or projects and any existingfacilities any part of the revenues of which are pledged to the payment of thebonds issued for such project or projects, (ii) to pay the principal of and theinterest on such bonds as the same shall become due and payable, and (iii) tocreate and maintain reserves for such purposes. Such fees, rents and chargesshall not be subject to supervision or regulation by any other commission,board, bureau or agency of the State. A sufficient amount of the revenues, exceptsuch part thereof as may be  necessary to pay such cost of maintenance, repairand operation and to provide such reserves therefor and for renewals,replacements, extensions, enlargements and improvements as may be provided forin the resolution authorizing the issuance of such bonds or in the trustagreement securing the same, shall be set aside at such regular intervals asmay be provided in such resolution or such trust agreement in a sinking fundwhich is hereby pledged to, and charged with, the payment of the principal ofand the interest on such bonds as the same shall become due and the redemptionprice or the purchase price of bonds retired by call or purchase as thereinprovided. Such pledge shall be valid and binding from the time when the pledgeis made, the fees, rents and charges and other revenues or other moneys sopledged and thereafter received by the Board shall immediately be subject tothe lien of such pledge without any physical delivery thereof or further act,and the lien of any such pledge shall be valid and binding as against allparties having claims of any kind in tort, contract or otherwise against theBoard, irrespective of whether such parties have notice thereof. Neither theresolution nor any trust agreement by which a pledge is created need be filedor recorded except in the records of the Board. The use and disposition ofmoneys to the credit of such sinking fund shall be subject to the provisions ofthe resolution authorizing the issuance of such bonds or of the trust agreementsecuring the same. (1963, c. 847, s.7.)