GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 2009

HOUSE BILL 12

RATIFIED BILL

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.

In the General Assembly read three times and ratified this the 11^th day of August, 2009.

                                                                        _____________________________________

                                                                         Walter H. Dalton

                                                                         President of the Senate

                                                                        _____________________________________

                                                                         Joe Hackney

                                                                         Speaker of the House of Representatives

                                                                        _____________________________________

                                                                         Beverly E. Perdue

                                                                         Governor

Approved __________.m. this ______________ day of ___________________, 2009