State Codes and Statutes
Statutes > North-carolina > Chapter_116 > GS_116-198_38§ 116‑198.38. Refunding bonds.
The Board is hereby authorized, subject to the approval of the Directorof the Budget, to issue from time to time revenue refunding bonds for thepurpose of refunding any revenue bonds or revenue refunding bonds issued by theBoard under this Article, including the payment of any redemption premiumthereon and any interest accrued or to accrue to the date of redemption of suchbonds. The Board is further authorized, subject to the approval of theDirector of the Budget, to issue from time to time revenue refunding bonds forthe combined purpose of (i) refunding any such revenue bonds or revenuerefunding bonds issued by the Board under this Article, including the paymentof any redemption premium thereon and any interest accrued or to accrue to thedate of redemption of such bonds, and (ii) paying all or any part of the costof acquiring or constructing any additional project or projects.
The issuance of such refunding bonds, the maturities and other detailsthereof, the rights and remedies of the holders thereof, and the rights,powers, privileges, duties, and obligations of the Board with respect to thesame, shall be governed by the foregoing provisions of this Article insofar asthe same may be applicable. (1987, c. 336.)
