GENERAL ASSEMBLY OF NORTH CAROLINA
SESSION LAW 2001-238
AN ACT TO AUTHORIZE LOCAL GOVERNMENTS TO ISSUE SPECIAL OBLIGATION BONDS FOR WATER AND SEWER PROJECTS.
The General Assembly of North Carolina enacts:
SECTION 1. G.S. 159I-30(a) reads as rewritten:
"(a) Authorization. - Any unit of local government may borrow money for the purpose of financing or refinancing its cost of the acquisition or construction of a project and may issue special obligation bonds and notes, including bond anticipation notes and renewal notes, pursuant to the provisions of this section and the applicable provisions of this Chapter for this purpose. As used in this section, the term 'project' has the meaning provided in G.S. 159I-3 and also includes any of the following as defined in S.L. 1998-132: water supply systems, water conservation projects, water reuse projects, wastewater collection systems, and wastewater treatment works."
SECTION 2. The title of Chapter 159I of the General Statutes reads as rewritten:
"Chapter 159I.
"North CarolinaSolid Waste Management Loan Program.Program
and
Local Government Special Obligation Bonds."
SECTION 3. This act is effective when it becomes law.
In the General Assembly read three times and ratified this the 13th day of June, 2001.
s/ Beverly E. Perdue
President of the Senate
s/ James B. Black
Speaker of the House of Representatives
s/ Michael F. Easley
Governor
Approved 2:05 p.m. this 23rd day of June, 2001