159-53. Order approving or disapproving an application.
(a) After considering an application, and conducting a public hearing thereon if one is requested under G.S. 159-52(b), the Commission shall enter its order either approving or denying the application. An order approving an issue shall not be regarded as an approval of the legality of the bonds in any respect.
(b) If the Commission shall enter an order denying an application, the proceedings under this Subchapter shall be at an end. (1931, c. 60, s. 14; 1971, c. 780, s. 1.)
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.
§ 159-45 - 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.
§ 159-52 - Approval of application by Commission.
§ 159-53 - Order approving or disapproving an application.
§ 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.
§ 159-73 - 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.