142-16. Governor and Council of State may borrow on note.
The Governor and Council of State may authorize and empower the State Treasurer in the intervals between sessions of the General Assembly, to borrow money on short term notes to meet any emergency arising from the destruction of the State's property, whether used by department or institution, or from some unforeseen calamity not amounting to its destruction. (1927, c. 49, s. 1.)
Structure North Carolina General Statutes
North Carolina General Statutes
Article 2 - Borrowing Money in Emergencies and in Anticipation of Collection of Taxes.
§ 142-16 - Governor and Council of State may borrow on note.
§ 142-17 - Recital of facts entered on minutes; directions to Treasurer; limit of amount.
§ 142-18 - Report to General Assembly.
§ 142-19 - Power given to Director of Budget to authorize State Treasurer to borrow money.