160A-615. Termination.
The Board of Trustees may terminate the existence of the Authority at any time when it has no outstanding indebtedness. In the event of such termination, all property and assets of the Authority not otherwise encumbered shall automatically become the property of the State of North Carolina, and the State of North Carolina shall succeed to all rights, obligations, and liabilities of the Authority. (1989, c. 740, s. 1.)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 160A - Cities and Towns
Article 26 - Regional Public Transportation Authority.
§ 160A-602 - Definition of territorial jurisdiction of Authority.
§ 160A-603 - Creation of Authority.
§ 160A-604 - Territorial jurisdiction of the Authority.
§ 160A-605 - Membership; officers; compensation.
§ 160A-607 - Advisory committees.
§ 160A-607.1 - Special tax board.
§ 160A-608 - Purpose of the Authority.
§ 160A-609 - Service area of the Authority.
§ 160A-610 - General powers of the Authority.
§ 160A-611 - Authority of Utilities Commission not affected.
§ 160A-612 - Fiscal accountability.
§ 160A-614 - Effect on existing franchises and operations.
§ 160A-616 - Controlling provisions.
§ 160A-617 - Bonds and notes authorized.
§ 160A-618 - Equipment trust certificates.
§ 160A-619 - Power of eminent domain.
§ 160A-621 - Removal and relocation of utility structures.
§ 160A-623 - Regional Transportation Authority registration tax.
§ 160A-624 - Recommendation of additional revenue sources.
§ 160A-625 - Reports to the General Assembly.