§ 116‑41.2. Powersof Board of Governors generally.
In addition to the powers which the Board now has, the Board shall havethe following powers subject to the provisions of this Part and subject toagreements with the holders of any revenue bonds issued hereunder:
(1) To acquire by gift, purchase or the exercise of the power ofeminent domain or to construct, provide, improve, maintain and operate anyproject or projects;
(2) To borrow money for the construction of any project orprojects, and to issue revenue bonds therefor in the name of the University;
(3) To establish, maintain, revise, charge and collect suchservice charges (free of any control or regulation by any State regulatory bodyuntil January 1, 1973, and thereafter only by the North Carolina UtilitiesCommission) as will produce sufficient revenues to pay the principal of andinterest on the bonds and otherwise to meet the requirements of the resolutionor resolutions of the Board authorizing the issuance of the revenue bonds;
(4) To pledge to the payment of any bonds of the Universityissued hereunder and the interest thereon the revenues of the project financedin whole or in part with the proceeds of such bonds, and to pledge to thepayment of such bonds and interest any other revenues, subject to any priorpledge or encumbrance thereof;
(5) To appropriate, apply, or expend in payment of the cost ofthe project the proceeds of the revenue bonds issued for the project;
(6) To sell, furnish, distribute, rent, or permit, as the casemay be, the use, occupancy, services, facilities and commodities of orfurnished by any project or any system, facility, plant, works,instrumentalities or properties whose revenues are pledged in whole or in partfor the payment of the bonds, and to sell, exchange, transfer, assign orotherwise dispose of any project or any of the University Enterprises or anyother service or auxiliary facility or any part of any thereof or interesttherein determined by resolution of the Board not to be required for any publicpurpose by the Board;
(7) To insure the payment of service charges with respect to thetelephone, electric and water systems of the University Enterprises, as thesame shall become due and payable, the Board may, in addition to any otherremedies which it may have:
a. Require reasonable advance deposits to be made with it to besubject to application to the payment of delinquent service charges, and
b. At the expiration of 30 days after any such service chargesbecome delinquent, discontinue supplying the services and facilities of suchtelephone, electric and water systems.
(8) To retain and employ consultants and other persons on acontract basis for rendering professional, technical or financial assistanceand advice in undertaking and carrying out any project and in operating,repairing or maintaining any project or any system, facility, plant, works,instrumentalities or properties whose revenues are pledged in whole or in partfor the payment of the bonds; and
(9) To enter into and carry out contracts with the UnitedStates of America or this State or any municipality, county or other publiccorporation and to lease property to or from any person, firm or corporation,private or public, in connection with exercising the powers vested under thisPart. (1961, c. 1078, s. 2;1971, c. 634, s. 2; c. 636; c. 1244, s. 15.)
§ 116‑41.2. Powersof Board of Governors generally.
In addition to the powers which the Board now has, the Board shall havethe following powers subject to the provisions of this Part and subject toagreements with the holders of any revenue bonds issued hereunder:
(1) To acquire by gift, purchase or the exercise of the power ofeminent domain or to construct, provide, improve, maintain and operate anyproject or projects;
(2) To borrow money for the construction of any project orprojects, and to issue revenue bonds therefor in the name of the University;
(3) To establish, maintain, revise, charge and collect suchservice charges (free of any control or regulation by any State regulatory bodyuntil January 1, 1973, and thereafter only by the North Carolina UtilitiesCommission) as will produce sufficient revenues to pay the principal of andinterest on the bonds and otherwise to meet the requirements of the resolutionor resolutions of the Board authorizing the issuance of the revenue bonds;
(4) To pledge to the payment of any bonds of the Universityissued hereunder and the interest thereon the revenues of the project financedin whole or in part with the proceeds of such bonds, and to pledge to thepayment of such bonds and interest any other revenues, subject to any priorpledge or encumbrance thereof;
(5) To appropriate, apply, or expend in payment of the cost ofthe project the proceeds of the revenue bonds issued for the project;
(6) To sell, furnish, distribute, rent, or permit, as the casemay be, the use, occupancy, services, facilities and commodities of orfurnished by any project or any system, facility, plant, works,instrumentalities or properties whose revenues are pledged in whole or in partfor the payment of the bonds, and to sell, exchange, transfer, assign orotherwise dispose of any project or any of the University Enterprises or anyother service or auxiliary facility or any part of any thereof or interesttherein determined by resolution of the Board not to be required for any publicpurpose by the Board;
(7) To insure the payment of service charges with respect to thetelephone, electric and water systems of the University Enterprises, as thesame shall become due and payable, the Board may, in addition to any otherremedies which it may have:
a. Require reasonable advance deposits to be made with it to besubject to application to the payment of delinquent service charges, and
b. At the expiration of 30 days after any such service chargesbecome delinquent, discontinue supplying the services and facilities of suchtelephone, electric and water systems.
(8) To retain and employ consultants and other persons on acontract basis for rendering professional, technical or financial assistanceand advice in undertaking and carrying out any project and in operating,repairing or maintaining any project or any system, facility, plant, works,instrumentalities or properties whose revenues are pledged in whole or in partfor the payment of the bonds; and
(9) To enter into and carry out contracts with the UnitedStates of America or this State or any municipality, county or other publiccorporation and to lease property to or from any person, firm or corporation,private or public, in connection with exercising the powers vested under thisPart. (1961, c. 1078, s. 2;1971, c. 634, s. 2; c. 636; c. 1244, s. 15.)
§ 116‑41.2. Powersof Board of Governors generally.
In addition to the powers which the Board now has, the Board shall havethe following powers subject to the provisions of this Part and subject toagreements with the holders of any revenue bonds issued hereunder:
(1) To acquire by gift, purchase or the exercise of the power ofeminent domain or to construct, provide, improve, maintain and operate anyproject or projects;
(2) To borrow money for the construction of any project orprojects, and to issue revenue bonds therefor in the name of the University;
(3) To establish, maintain, revise, charge and collect suchservice charges (free of any control or regulation by any State regulatory bodyuntil January 1, 1973, and thereafter only by the North Carolina UtilitiesCommission) as will produce sufficient revenues to pay the principal of andinterest on the bonds and otherwise to meet the requirements of the resolutionor resolutions of the Board authorizing the issuance of the revenue bonds;
(4) To pledge to the payment of any bonds of the Universityissued hereunder and the interest thereon the revenues of the project financedin whole or in part with the proceeds of such bonds, and to pledge to thepayment of such bonds and interest any other revenues, subject to any priorpledge or encumbrance thereof;
(5) To appropriate, apply, or expend in payment of the cost ofthe project the proceeds of the revenue bonds issued for the project;
(6) To sell, furnish, distribute, rent, or permit, as the casemay be, the use, occupancy, services, facilities and commodities of orfurnished by any project or any system, facility, plant, works,instrumentalities or properties whose revenues are pledged in whole or in partfor the payment of the bonds, and to sell, exchange, transfer, assign orotherwise dispose of any project or any of the University Enterprises or anyother service or auxiliary facility or any part of any thereof or interesttherein determined by resolution of the Board not to be required for any publicpurpose by the Board;
(7) To insure the payment of service charges with respect to thetelephone, electric and water systems of the University Enterprises, as thesame shall become due and payable, the Board may, in addition to any otherremedies which it may have:
a. Require reasonable advance deposits to be made with it to besubject to application to the payment of delinquent service charges, and
b. At the expiration of 30 days after any such service chargesbecome delinquent, discontinue supplying the services and facilities of suchtelephone, electric and water systems.
(8) To retain and employ consultants and other persons on acontract basis for rendering professional, technical or financial assistanceand advice in undertaking and carrying out any project and in operating,repairing or maintaining any project or any system, facility, plant, works,instrumentalities or properties whose revenues are pledged in whole or in partfor the payment of the bonds; and
(9) To enter into and carry out contracts with the UnitedStates of America or this State or any municipality, county or other publiccorporation and to lease property to or from any person, firm or corporation,private or public, in connection with exercising the powers vested under thisPart. (1961, c. 1078, s. 2;1971, c. 634, s. 2; c. 636; c. 1244, s. 15.)
