State Codes and Statutes
Statutes > North-carolina > Chapter_160A > GS_160A-239_6§ 160A‑239.6. (ExpiresJuly 1, 2013) Revenue bonds.
(a) Authorization. Acity council that imposes an assessment under this Article may issue revenuebonds under Article 5 of Chapter 159 of the General Statutes to finance theproject for which the assessment is imposed and use the proceeds of theassessment imposed as revenues pertaining to the project.
(b) Modifications. ThisArticle specifically modifies the authority of a city to issue revenue bondsunder Article 5 of Chapter 159 of the General Statutes by extending theauthority in that Article to include a project for which an assessment may beimposed under this Article. In applying the provisions of Article 5, thefollowing definitions apply:
(1) Revenue bondproject. Defined in G.S. 159‑81(3). The term includes projects forwhich an assessment is imposed under this Article.
(2) Revenues. Definedin G.S. 159‑81(4). The term includes assessments imposed under thisArticle to finance a project allowed under this Article. (2008‑165, s. 3.)
