North Carolina General Statutes
Article 4 - Local Government Bond Act.
§ 159-44 - Definitions.

159-44. Definitions.
The words and phrases defined in this section shall have the meanings indicated when used in this Article, unless the context clearly requires another meaning:
(1) "Finance officer" means the officer performing the duties of finance officer of a unit of local government pursuant to G.S. 159-24 of the Local Government Budget and Fiscal Control Act.
(2) "Governing board" or "board" means the governing body of a unit of local government.
(3) "Sinking fund" means a fund held for the retirement of term bonds.
(4) "Unit," "unit of local government," or "local government" means counties; cities, towns, and incorporated villages; consolidated city-counties, as defined by G.S. 160B-2(1); sanitary districts; mosquito control districts; hospital districts; merged school administrative units described in G.S. 115C-513; metropolitan sewerage districts; metropolitan water districts; metropolitan water and sewerage districts; county water and sewer districts; regional public transportation authorities; and special airport districts.
(5) "Utility or public service enterprise" includes:
a. Electric power transmission and distribution systems;
b. Water supply facilities and distribution systems;
c. Sewage collection and disposal systems;
d. Gas transmission and distribution systems;
e. Public transportation systems, including but not limited to bus lines, ferries, and mass transit systems;
f. Solid waste collection and disposal systems and facilities;
g. Cable television systems;
h. Off-street parking facilities and systems;
i. Public auditoriums, coliseums, stadiums and convention centers;
j. Airport;
k. Hospitals and other health-related facilities; and
l. Structural and natural stormwater and drainage systems of all types. (1971, c. 780, s. 1; 1973, c. 494, s. 3; 1977, c. 466, s. 2; 1979, c. 727, s. 2; 1989, c. 643, s. 3; c. 740, s. 3; 1991, c. 325, s. 4; 1995, c. 461, s. 10; 1997-456, s. 27; 2013-50, s. 3.)

Structure North Carolina General Statutes

North Carolina General Statutes

Chapter 159 - Local Government Finance

Article 4 - Local Government Bond Act.

§ 159-43 - Short title; legislative intent.

§ 159-44 - Definitions.

§ 159-45 - All general obligation bonds subject to Local Government Bond Act.

§ 159-46 - Faith and credit pledged.

§ 159-47 - Additional security for utility or public service enterprise bonds.

§ 159-48 - For what purposes bonds may be issued.

§ 159-49 - When a vote of the people is required.

§ 159-50 - Notice of intent to make application for issuance of voted bonds; objection by citizens and taxpayers.

§ 159-51 - Application to Commission for approval of bond issue; preliminary conference; acceptance of application.

§ 159-52 - Approval of application by Commission.

§ 159-53 - Order approving or disapproving an application.

§ 159-54 - The bond order.

§ 159-55 - Sworn statement of debt; debt limitation.

§ 159-55.1 - Statement of disclosures necessary for bond authorization.

§ 159-56 - Publication of bond order as introduced.

§ 159-56.1 - Certain proceedings ratified notwithstanding provisions of § 159-56.

§ 159-57 - Hearing; passage of bond order.

§ 159-58 - Publication of bond order as adopted.

§ 159-59 - Limitation of action to set aside order.

§ 159-60 - Petition for referendum on bond issue.

§ 159-61 - Bond referenda; majority required; notice of referendum; form of ballot; canvass.

§ 159-62 - Limitation on actions contesting validity of bond referenda.

§ 159-63 - Repeal of bond orders.

§ 159-64 - Within what time bonds may be issued.

§ 159-65 - Resolution fixing the details of the bonds.

§ 159-66 - Validation of former proceedings and actions.

§ 159-67 - Procedures if a county votes to relocate the county seat.

§ 159-68 - Certain provisions not applicable to refunding bonds.

§ 159-72 - Purposes for which funding and refunding bonds may be issued; when such bonds may be issued.

§ 159-73 - Financing or refinancing agreements.

§ 159-74 - Test cases testing validity of funding or refunding bonds.

§ 159-75 - Judgment validating issue; costs of the action.

§ 159-76 - Validation of bonds and notes issued before March 26, 1931.

§ 159-77 - Validation of all proceedings in connection with the authorization of bonds taken before April 28, 1975.

§ 159-78 - Special obligation refunding bonds.

§ 159-79 - Variable rate demand bonds and notes.