§ 116D-30. Refunding bonds. - North Carolina Statutes

§ 116D‑30. Refunding bonds.

The Board of Governors may, subject to the approval of the Director ofthe Budget, issue from time to time refunding bonds for the purpose ofrefunding any bonds by the Board under this Article or under any Article ofChapter 116 of the General Statutes, including the payment of any redemptionpremium on them and any interest accrued or to accrue to the date of redemptionof the bonds refunded. The Board of Governors is further authorized, subject tothe approval of the Director of the Budget, to issue from time to timerefunding bonds for the combined purpose of (i) refunding any bonds issued bythe Board under this Article or under any Article of Chapter 116 of the GeneralStatutes, including the payment of any redemption premium on them and anyinterest accrued or to accrue to the date of redemption of the bonds, and (ii)paying all or any part of the cost of acquiring or constructing any additionalspecial obligation bond projects.

This Article, as applicable, governs the issuance of refunding bonds,their maturities and other details, the rights and remedies of their holders,and the rights, powers, privileges, duties, and obligations of the Board ofGovernors with respect to them. (2000‑3, s. 1.2.)