157-24. Security for funds deposited by authorities.
The authority may by resolution provide that
(1) All moneys deposited by it shall be secured by obligations of the United States or of the State of a market value equal at all times to the amount of such deposits or
(2) By any securities in which savings banks may legally invest funds within their control or
(3) By an undertaking with such sureties as shall be approved by the authority faithfully to keep and pay over upon the order of the authority any such deposits and agreed interest thereon, and all banks and trust companies are authorized to give any such security for such deposits. (1935, c. 456, s. 24.)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 157 - Housing Authorities and Projects
Article 1 - Housing Authorities Law.
§ 157-2 - Finding and declaration of necessity.
§ 157-4 - Notice, hearing and creation of authority; cancellation of certificate of incorporation.
§ 157-4.1 - Alternative organization any city.
§ 157-4.1A - Alternative organization cities under 250,000 only.
§ 157-5 - Appointment, qualifications and tenure of commissioners.
§ 157-7 - Interested commissioners or employees.
§ 157-8 - Removal of commissioners.
§ 157-9 - Powers of authority.
§ 157-9.2 - Additional powers.
§ 157-9.3 - Mixed income projects owned or operated by authorities.
§ 157-9.4 - Multi-family rental housing projects.
§ 157-10 - Cooperation of authorities.
§ 157-12 - Acquisition of land for government.
§ 157-13 - Zoning and building laws.
§ 157-14 - Types of bonds authority may issue.
§ 157-15 - Form and sale of bonds.
§ 157-16 - Provisions of bonds, trust indentures, and mortgages.
§ 157-17 - Power to mortgage when project financed with governmental aid.
§ 157-18 - Remedies of an obligee of authority.
§ 157-19 - Additional remedies conferrable by mortgage or trust indenture.
§ 157-20 - Remedies cumulative.
§ 157-21 - Limitations on remedies of obligee.
§ 157-22 - Title obtained at foreclosure sale subject to agreement with government.
§ 157-23 - Contracts with federal government.
§ 157-24 - Security for funds deposited by authorities.
§ 157-25 - Housing bonds, legal investments and security.
§ 157-26.1 - Exemption from real estate licensure requirements.
§ 157-29 - Rentals; tenant selections; and summary ejectments.
§ 157-29.1 - Fraudulent misrepresentation.
§ 157-30 - Creation and establishment validated.
§ 157-31 - Contracts, agreements, etc., validated.
§ 157-32 - Proceedings for issuance, etc., of bonds and notes validated.
§ 157-32.1 - Other validation of creation, etc.
§ 157-32.2 - Other validation of contracts, agreements, etc.
§ 157-32.3 - Other validation of bonds and notes.
§ 157-32.4 - Further validation of contracts, agreements, etc.
§ 157-33 - Notice, hearing and creation of authority for a county.
§ 157-34 - Commissioners and powers of authority for a county.
§ 157-35 - Creation of regional housing authority.
§ 157-36 - Commissioners of regional housing authority.
§ 157-37 - Powers of regional housing authority.
§ 157-38 - Rural housing projects.
§ 157-39 - Housing applications by farmers.
§ 157-39.1 - Area of operation of city, county and regional housing authorities.
§ 157-39.2 - Increasing area of operation of regional housing authority.
§ 157-39.3 - Decreasing area of operation of regional housing authority.
§ 157-39.4 - Requirements of public hearings.
§ 157-39.5 - Consolidated housing authority.
§ 157-39.6 - Findings required for authority to operate in municipality.
§ 157-39.7 - Meetings and residence of commissioners.
§ 157-39.8 - Agreement to sell as security for obligations to federal government.