Chapter 159

180 published sections.

Article 1 - Short Title and Definitions

N.C.G.S. § 159-1 — Short title and definitions.
N.C.G.S. § 159-2 — Computation of time.

Article 2 - Local Government Commission

N.C.G.S. § 159-3 — Local Government Commission established.
N.C.G.S. § 159-4 — Executive committee; appeal.
N.C.G.S. § 159-5 — Secretary and staff of the Commission.
N.C.G.S. § 159-6 — Fees of the Commission.

Article 3 - The Local Government Budget and Fiscal Control Act

N.C.G.S. § 159-7 — Short title; definitions; local acts superseded.
N.C.G.S. § 159-8 — Annual balanced budget ordinance.
N.C.G.S. § 159-9 — Budget officer.
N.C.G.S. § 159-10 — Budget requests.
N.C.G.S. § 159-11 — Preparation and submission of budget and budget message.
N.C.G.S. § 159-12 — Filing and publication of the budget; budget hearings.
N.C.G.S. § 159-13 — The budget ordinance; form, adoption, limitations, tax levy, filing.
N.C.G.S. § 159-13.1 — Financial plan for intragovernmental service funds.
N.C.G.S. § 159-13.2 — Project ordinances.
N.C.G.S. § 159-14 — Trust and custodial funds; budgets of special districts.
N.C.G.S. § 159-15 — Amendments to the budget ordinance.
N.C.G.S. § 159-16 — Interim budget.
N.C.G.S. § 159-17 — Ordinance procedures not applicable to budget or project ordinance adoption.
N.C.G.S. § 159-17.1 — Vending facilities.
N.C.G.S. § 159-18 — Capital reserve funds.
N.C.G.S. § 159-19 — Amendments.
N.C.G.S. § 159-20 — Funding capital reserve funds.
N.C.G.S. § 159-21 — Investment.
N.C.G.S. § 159-22 — Withdrawals.
N.C.G.S. § 159-24 — Finance officer.
N.C.G.S. § 159-25 — Duties of finance officer; dual signatures on checks; internal control procedures subject to Commission regulation.
N.C.G.S. § 159-26 — Accounting system.
N.C.G.S. § 159-27 — Distribution of tax collections among funds according to levy.
N.C.G.S. § 159-27.1 — Use of revenue bond project reimbursements; restrictions.
N.C.G.S. § 159-28 — Budgetary accounting for appropriations.
N.C.G.S. § 159-28.1 — Facsimile signatures.
N.C.G.S. § 159-29 — Fidelity bonds.
N.C.G.S. § 159-30 — Investment of idle funds.
N.C.G.S. § 159-30.1 — Trust for other post-employment benefits.
N.C.G.S. § 159-30.2 — Trust for law enforcement special separation allowance benefits.
N.C.G.S. § 159-31 — Selection of depository; deposits to be secured.
N.C.G.S. § 159-32 — Daily deposits.
N.C.G.S. § 159-32.1 — Electronic payment.
N.C.G.S. § 159-33 — Semiannual reports on status of deposits and investments.
N.C.G.S. § 159-33.1 — Semiannual reports of financial information.
N.C.G.S. § 159-33.2 — Interim event reporting.
N.C.G.S. § 159-34 — Annual independent audit; rules and regulations.
N.C.G.S. § 159-35 — Secretary of Local Government Commission to notify units of debt service obligations.
N.C.G.S. § 159-36 — Failure of local government to levy debt service taxes or provide for payment of debt.
N.C.G.S. § 159-37 — Reports on status of sinking funds.
N.C.G.S. § 159-38 — Local units authorized to accept their bonds in payment of certain claims and judgments.
N.C.G.S. § 159-39 — Special regulations pertaining to public hospitals.
N.C.G.S. § 159-40 — Special regulations pertaining to nonprofit corporations receiving public funds.
N.C.G.S. § 159-41 — Special regulations pertaining to joint municipal power agencies.
N.C.G.S. § 159-42 — Special regulations pertaining to public housing authorities.
N.C.G.S. § 159-42.1 — Establishment of nonprofit corporation by public authority authorized.

Article 4 - Local Government Bond Act

N.C.G.S. § 159-43 — Short title; legislative intent.
N.C.G.S. § 159-44 — Definitions.
N.C.G.S. § 159-45 — All general obligation bonds subject to Local Government Bond Act.
N.C.G.S. § 159-46 — Faith and credit pledged.
N.C.G.S. § 159-47 — Additional security for utility or public service enterprise bonds.
N.C.G.S. § 159-48 — For what purposes bonds may be issued.
N.C.G.S. § 159-49 — When a vote of the people is required.
N.C.G.S. § 159-50 — Notice of intent to make application for issuance of voted bonds; objection by citizens and taxpayers.
N.C.G.S. § 159-51 — Application to Commission for approval of bond issue; preliminary conference; acceptance of application.
N.C.G.S. § 159-52 — Approval of application by Commission.
N.C.G.S. § 159-53 — Order approving or disapproving an application.
N.C.G.S. § 159-54 — The bond order.
N.C.G.S. § 159-55 — Sworn statement of debt; debt limitation.
N.C.G.S. § 159-55.1 — Statement of disclosures necessary for bond authorization.
N.C.G.S. § 159-56 — Publication of bond order as introduced.
N.C.G.S. § 159-56.1 — Certain proceedings ratified notwithstanding provisions of § 159-56.
N.C.G.S. § 159-57 — Hearing; passage of bond order.
N.C.G.S. § 159-58 — Publication of bond order as adopted.
N.C.G.S. § 159-59 — Limitation of action to set aside order.
N.C.G.S. § 159-60 — Petition for referendum on bond issue.
N.C.G.S. § 159-61 — Bond referenda; majority required; notice of referendum; form of ballot; canvass.
N.C.G.S. § 159-62 — Limitation on actions contesting validity of bond referenda.
N.C.G.S. § 159-63 — Repeal of bond orders.
N.C.G.S. § 159-64 — Within what time bonds may be issued.
N.C.G.S. § 159-65 — Resolution fixing the details of the bonds.
N.C.G.S. § 159-66 — Validation of former proceedings and actions.
N.C.G.S. § 159-67 — Procedures if a county votes to relocate the county seat.
N.C.G.S. § 159-68 — Certain provisions not applicable to refunding bonds.
N.C.G.S. § 159-72 — Purposes for which funding and refunding bonds may be issued; when such bonds may be issued.
N.C.G.S. § 159-73 — Financing or refinancing agreements.
N.C.G.S. § 159-74 — Test cases testing validity of funding or refunding bonds.
N.C.G.S. § 159-75 — Judgment validating issue; costs of the action.
N.C.G.S. § 159-76 — Validation of bonds and notes issued before March 26, 1931.
N.C.G.S. § 159-77 — Validation of all proceedings in connection with the authorization of bonds taken before April 28, 1975.
N.C.G.S. § 159-78 — Special obligation refunding bonds.
N.C.G.S. § 159-79 — Variable rate demand bonds and notes.

Article 5 - Revenue Bonds

N.C.G.S. § 159-80 — Short title; repeal of local acts.
N.C.G.S. § 159-81 — Definitions.
N.C.G.S. § 159-82 — Purpose.
N.C.G.S. § 159-83 — Powers.
N.C.G.S. § 159-84 — Authorization of revenue bonds.
N.C.G.S. § 159-85 — Application to Commission for approval of revenue bond issue; preliminary conference; acceptance of application.
N.C.G.S. § 159-86 — Approval of application by Commission.
N.C.G.S. § 159-87 — Order approving or denying the application.
N.C.G.S. § 159-88 — Adoption of revenue bond order.
N.C.G.S. § 159-89 — Special covenants.
N.C.G.S. § 159-90 — Limitations on details of bonds; additional provisions.
N.C.G.S. § 159-91 — Lien of revenue bonds.
N.C.G.S. § 159-92 — Status of revenue bonds under Uniform Commercial Code.
N.C.G.S. § 159-93 — Agreement of the State.
N.C.G.S. § 159-94 — Limited liability.
N.C.G.S. § 159-95 — Approval of State agencies.
N.C.G.S. § 159-96 — Limitation on extraterritorial operation of enterprises financed by revenue bonds.
N.C.G.S. § 159-97 — Taxes for supplementing revenue bond projects.

Article 5A - Capital Appreciation Bonds

N.C.G.S. § 159-99 — Definition; terms and conditions.
N.C.G.S. § 159-100 — Authorization.

Article 6 - Project Development Financing Act

N.C.G.S. § 159-101 — Short title.
N.C.G.S. § 159-102 — Unit of local government defined.
N.C.G.S. § 159-103 — Authorization of project development financing debt instruments; purposes.
N.C.G.S. § 159-104 — Application to Commission for approval of project development financing debt instrument issue; preliminary conference; acceptance of application.
N.C.G.S. § 159-105 — Approval of application by Commission.
N.C.G.S. § 159-106 — Order approving or denying the application.
N.C.G.S. § 159-107 — Determination of incremental valuation; use of taxes levied on incremental valuation; duration of the district.
N.C.G.S. § 159-108 — Agreements with property owners.
N.C.G.S. § 159-109 — Special covenants.
N.C.G.S. § 159-110 — Security of project development financing debt instruments.
N.C.G.S. § 159-111 — Additional security for project development financing debt instruments.
N.C.G.S. § 159-112 — Limitations on details of debt instruments.
N.C.G.S. § 159-113 — Annual report.

Article 7 - Issuance and Sale of Bonds

N.C.G.S. § 159-120 — Definitions.
N.C.G.S. § 159-121 — Coupon or registered bonds to be issued.
N.C.G.S. § 159-122 — Maturities of bonds.
N.C.G.S. § 159-123 — Sale of bonds by sealed bids; private sales.
N.C.G.S. § 159-124 — Date of sale; notice of sale and blank proposal.
N.C.G.S. § 159-125 — Bid instructions; bid deposit.
N.C.G.S. § 159-126 — Rejection of bids.
N.C.G.S. § 159-127 — Award of bonds.
N.C.G.S. § 159-128 — Makeup and formal execution of bonds; temporary bonds.
N.C.G.S. § 159-129 — Obligations of units certified by Commission.
N.C.G.S. § 159-130 — Record of issues kept.
N.C.G.S. § 159-131 — Contract for services to be approved by Commission.
N.C.G.S. § 159-132 — State Treasurer to deliver bonds and remit proceeds.
N.C.G.S. § 159-133 — Suit to enforce contract of sale.
N.C.G.S. § 159-134 — Fiscal agents.
N.C.G.S. § 159-135 — Application of proceeds.
N.C.G.S. § 159-136 — Issuing unit to make and report debt service payments.
N.C.G.S. § 159-137 — Lost, stolen, defaced, or destroyed bonds or notes.
N.C.G.S. § 159-138 — Cancellation of bonds and notes.
N.C.G.S. § 159-139 — Destruction of cancelled bonds, notes, and coupons.
N.C.G.S. § 159-140 — Bonds or notes eligible for investment.
N.C.G.S. § 159-141 — Terms and conditions of sale.

Article 7A - Special Obligation Bonds and Notes

N.C.G.S. § 159-146 — Additional powers of units of local government; issuance of special obligation bonds and notes.

Article 8 - Financing Agreements and Other Financing Arrangements; Arrangements for Nongovernmental Control of Public Enterprises

N.C.G.S. § 159-148 — Contracts subject to Article; exceptions.
N.C.G.S. § 159-149 — Application to Local Government Commission for approval of contract.
N.C.G.S. § 159-150 — Sworn statement of debt; debt limitation.
N.C.G.S. § 159-151 — Approval of application by Commission.
N.C.G.S. § 159-152 — Order approving or denying the application.
N.C.G.S. § 159-153 — Approval of other financing arrangements.
N.C.G.S. § 159-154 — Nongovernmental control of public enterprises.

Article 9 - Bond Anticipation, Tax, Revenue and Grant Anticipation Notes

N.C.G.S. § 159-160 — Definitions.
N.C.G.S. § 159-161 — Bond anticipation notes.
N.C.G.S. § 159-162 — Security of general obligation bond anticipation notes.
N.C.G.S. § 159-163 — Security of revenue bond anticipation notes.
N.C.G.S. § 159-163.1 — Security of project development financing debt instrument anticipation notes.
N.C.G.S. § 159-164 — Form of notes to be issued.
N.C.G.S. § 159-165 — Sale and delivery of bond anticipation notes.
N.C.G.S. § 159-168 — "Unit" defined.
N.C.G.S. § 159-169 — Tax anticipation notes.
N.C.G.S. § 159-170 — Revenue anticipation notes.
N.C.G.S. § 159-171 — Grant anticipation notes.
N.C.G.S. § 159-172 — Authorization and issuance of notes.

Article 9A - Borrowing by Cities for Competitive Purposes

N.C.G.S. § 159-175.10 — Additional requirements for review of city financing application; communications service.

Article 10 - Assistance for Defaulting Units in Refinancing Debt

N.C.G.S. § 159-176 — Commission to aid defaulting units in developing refinancing plans.
N.C.G.S. § 159-177 — Power to require reports and approve budgets.
N.C.G.S. § 159-178 — Duration of Commission's powers.

Article 11 - Enforcement of Chapter

N.C.G.S. § 159-181 — Enforcement of Chapter.
N.C.G.S. § 159-182 — Offending officers and employees removed from office.

Article 12 - Borrowing by Development Authorities Created by General Assembly

N.C.G.S. § 159-188 — Borrowing authority.

Article 13 - Interest Rate Swap Agreements for Governmental Units

N.C.G.S. § 159-193 — Definitions.
N.C.G.S. § 159-194 — Swap agreements.
N.C.G.S. § 159-195 — Nature of duties of a governmental unit under a swap agreement.
N.C.G.S. § 159-196 — Approval by Commission.
N.C.G.S. § 159-197 — Additional method.
N.C.G.S. § 159-198 — Severability.
N.C.G.S. § 159-199 — Validation of preexisting swap agreements.
N.C.G.S. § 159-200 — Liberal construction.

Article 14 - Borrowing by Airport Authorities

N.C.G.S. § 159-210 — Borrowing authority.

Article 15 - Borrowing for Expansion of Existing Landfills and Construction of New Landfills in Certain Circumstances

N.C.G.S. § 159-216 — Borrowing authority for landfills.