§ 116-41.9. Refunding revenue bonds. - North Carolina Statutes

§ 116‑41.9.  Refundingrevenue bonds.

The University is herebyauthorized, subject to the approval of the Director of the Budget, to issuefrom time to time refunding revenue bonds for the purpose of refunding anyrevenue bonds issued by the University under this Part in connection with anyproject or projects, including the payment of any redemption premium thereonand any interest accrued or to accrue to the date of redemption of such bonds.The University is further authorized, subject to the approval of the Directorof the Budget, to issue from time to time refunding revenue bonds for thecombined purpose of

(1)        Refunding anyrevenue bonds or refunding revenue bonds issued by the University in connectionwith any project or projects including the payment of any redemption premiumthereon and any interest accrued or to accrue to the date of redemption of suchbonds, and

(2)        Paying all or anypart of the cost of any project or projects.

The issuance of such refundingrevenue bonds, the maturities and other details thereof, the rights andremedies of the holders thereof, and the rights, powers, privileges, duties andobligations of the University with respect to the same, shall be governed bythe foregoing provisions of this Part insofar as the same may be applicable. (1961, c. 1078, s. 9; 1983,c. 577, s. 4; 1985 (Reg. Sess.,1986), c. 955, ss. 34, 35; 2006‑203, s.49.)