GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 2009

H                                                                                                                                                   3

HOUSE BILL 12

Committee Substitute Favorable 4/14/09

Senate Rules and Operations of the Senate Committee Substitute Adopted 8/6/09

Short Title:        GARVEE Bonds/Repayment.	(Public)
Sponsors:
Referred to:

February 2, 2009

A BILL TO BE ENTITLED

AN ACT to clarify provisions applicable to funds used in repayment of GARVEE bonds.

The General Assembly of North Carolina enacts:

SECTION 1.  G.S. 136‑17.2A(i) reads as rewritten:

"(i)        All funds derived from used in repayment of "GARVEE" bonds issued pursuant to G.S. 136‑18(12b) shall be distributed in accordance with subject to the provisions of this section."

SECTION 2.  This act is effective when it becomes law.