State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_143B > GS_143B-472_104

§ 143B‑472.104.  SmallBusiness Contract Financing Fund.

(a)        Creation and Use. –The Small Business Contract Financing Fund is created as a special revenuefund. Revenue in the Fund does not revert at the end of a fiscal year, andinterest and other investment income earned by the Fund accrues to the Fund.The Authority shall use the Fund to make direct loans and guaranty paymentsrequired by defaults and to pay the portion of the administrative expenses ofthe Authority related to making these loans and payments.

(b)        Content. – TheSmall Business Contract Financing Fund consists of all of the followingrevenue:

(1)        Funds appropriatedto the Fund by the State.

(2)        Repayments ofprincipal of and interest on direct loans.

(3)        Premiums, fees, andany other amounts received by the Authority with respect to financialassistance provided by the Authority.

(4)        Proceeds designatedby the Authority from the sale, lease, or other disposition of property orcontracts held or acquired by the Authority.

(5)        Investment income ofthe Fund.

(6)        Any other moneysmade available to the Fund. (2007‑441, s. 1.)