116D-30. Refunding bonds.
The Board of Governors may, subject to the approval of the Director of the Budget, issue from time to time refunding bonds for the purpose of refunding any bonds by the Board under this Article or under any Article of Chapter 116 of the General Statutes, including the payment of any redemption premium on them and any interest accrued or to accrue to the date of redemption of the bonds refunded. The Board of Governors is further authorized, subject to the approval of the Director of the Budget, to issue from time to time refunding bonds for the combined purpose of (i) refunding any bonds issued by the Board under this Article or under any Article of Chapter 116 of the General Statutes, including the payment of any redemption premium on them and any interest accrued or to accrue to the date of redemption of the bonds, and (ii) paying all or any part of the cost of acquiring or constructing any additional special obligation bond projects.
This Article, as applicable, governs the issuance of refunding bonds, their maturities and other details, the rights and remedies of their holders, and the rights, powers, privileges, duties, and obligations of the Board of Governors with respect to them. (2000-3, s. 1.2.)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 116D - Higher Education Bonds
§ 116D-23 - Credit and taxing power of State not pledged; statement on face of bonds.
§ 116D-24 - General powers of Board of Governors.
§ 116D-25 - Consultation with the Joint Legislative Commission on Governmental Operations.
§ 116D-26 - Issuance of special obligation bonds and bond anticipation notes.
§ 116D-27 - Trust agreement; money received deemed trust funds; insurance; remedies.
§ 116D-28 - Fixing and collecting obligated resources.