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62 sections in this chapter.
N.C. Gen. Stat. § 142-86 Financing contract indebtedness
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(a) Documentation. - Financing contract indebtedness shall not be incurred until all documentation providing for its incurrence has been approved by the State Treasurer after the State Treasurer has consulted with the Department of Administration. (b) Interest Component. - A fina…
N.C. Gen. Stat. § 142-87 Additional requirements for certificates of participation indebtedness
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(a) Documentation. - A financing contract shall not be used in connection with the delivery of certificates of participation by a special corporation until all documentation providing for its use has been approved by the State Treasurer after the State Treasurer has consulted wit…
N.C. Gen. Stat. § 142-88 Bonded indebtedness
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The State Treasurer is authorized, by and with the consent of the Council of State as provided in this Article, to issue and sell at one time or from time to time bonds of the State to be designated "State of North Carolina Limited Obligation Bonds, Series____ " or notes of the S…
N.C. Gen. Stat. § 142-89 Issuance of limited obligation bonds and notes
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(a) (Effective January 1, 2019, and expires December 31, 2031) Terms and Conditions. - Bonds or notes may bear any dates; may be serial or term bonds or notes, or any combination of these; may mature in any amounts and at any times, not exceeding 15 years from their dates for Bui…
N.C. Gen. Stat. § 142-9 Duties performed by other officers
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If the Council of State shall at any time find that either the Governor or the State Treasurer is unable by reason of absence, disability, or otherwise, to sign any bonds or certificates, the Lieutenant-Governor may sign the same in lieu of the Governor, and they may be signed in…
N.C. Gen. Stat. § 142-90 Variable rate demand bonds and notes and financing contract indebtedness
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(a) In fixing the details of special indebtedness, the State Treasurer may make the special indebtedness subject to any of the following conditions: (1) It is payable from time to time on demand or tender for purchase by the owner thereof if a credit facility supports the special…
N.C. Gen. Stat. § 142-91 Other agreements
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The State Treasurer may authorize, execute, obtain, or otherwise provide for bond insurance, investment contracts, credit and liquidity facilities, credit enhancement facilities, interest rate swap agreements and other derivative products, and any other related instruments and ma…
N.C. Gen. Stat. § 142-92 Tax exemption
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Special indebtedness shall at all times be free from taxation by the State or any political subdivision or any of their agencies, excepting income taxes on the gain from the transfer of the indebtedness; and franchise taxes. The interest component of any payments made by the Stat…
N.C. Gen. Stat. § 142-93 Investment eligibility
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Special indebtedness are securities or obligations in which all of the following may invest, including capital in their control or belonging to them: public officers, agencies, and public bodies of the State and its political subdivisions; insurance companies, trust companies, in…
N.C. Gen. Stat. § 142-94 Procurement of capital facilities
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The provisions of Articles 3, 3B, 3C, 3D, and 8 of Chapter 143 of the General Statutes and any other laws or rules of the State that relate to the acquisition and construction of State property apply to the financing of capital facilities through the use of special indebtedness p…
N.C. Gen. Stat. § 142-96 Savings from refinancing of special indebtedness to be placed in the Savings Reserve Account
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(a) Whenever special indebtedness issued or incurred pursuant to this Article is refinanced: (1) The General Assembly shall not reduce the funds appropriated for servicing the refinanced debt during the fiscal biennium in which the refinancing occurs. (2) The State Controller sha…
N.C. Gen. Stat. § 142-97 (Expires December 31, 2031 - see note) Additional provisions with respect to Build NC Bonds
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The following requirements and limitations apply to the issuance and sale of Build NC Bonds: (1) Subject to appropriation by the General Assembly, funds from the Highway Trust Fund shall be the source for repayment of special indebtedness resulting from the sale of Build NC Bonds…
