§ 116-195. Refunding bonds. - North Carolina Statutes

§ 116‑195. Refunding bonds.

The Board is hereby authorized, subject to the approval of the Directorof the Budget, to issue from time to time revenue refunding bonds for thepurpose of refunding any revenue bonds or revenue refunding bonds issued by theBoard under Chapter 1289 of the 1955 Session Laws of North Carolina or underG.S. 116‑175 to 116‑185,  inclusive, or under this Article,including the payment of any redemption premium thereon and any interestaccrued or to accrue to the date of redemption of such bonds. The Board isfurther authorized, subject to the approval of the Director of the Budget, toissue from time to time revenue refunding bonds for the combined purpose of (i)refunding any such revenue bonds or revenue refunding bonds issued by the Boardunder said Chapter 1289 or under said G.S. 116‑175 to 116‑185,inclusive, or under this Article, including the payment of any redemptionpremium thereon and any interest accrued or to accrue to the date of redemptionof such bonds, and (ii) paying all or any part of the cost of acquiring orconstructing any additional project or projects.

The issuance of such refunding bonds, the maturities and other detailsthereof, the rights and remedies of the holders thereof, and the rights,powers, privileges, duties and obligations of the Board with respect to thesame, shall be governed by the foregoing provisions of this Article insofar asthe same may be applicable. (1963, c. 847, s. 9; 1983, c. 577, s. 8.)