§ 131A-13. Revenues; pledges of revenues. - North Carolina Statutes

§131A‑13.  Revenues; pledges of revenues.

(a)        The Commission ishereby authorized to fix and to collect fees, loan repayments, purchase pricepayments, rents and charges for the use of any health care facilities, and anypart or section thereof, and to contract with any public or nonprofit agencyfor the use thereof. The Commission may require that the public or nonprofitagency shall operate, repair or maintain such facilities and shall bear thecost thereof and other costs of the Commission in connection therewith, subjectto the provisions of G.S. 131A‑8 with respect to a public agency, as maybe provided in the agreement of sale or lease or other contract with theCommission, in addition to other obligations imposed under such agreement orcontract.

(b)        The fees, purchaseprice payments, rents and charges shall be fixed so as to provide a fundsufficient, with such other funds as may be made available therefor, (i) to paythe costs of operating, repairing and maintaining the health care facilities,to the extent that adequate provision for the payment of such costs has nototherwise been provided for, (ii) to pay the principal of and the interest onall bonds or notes as the same shall become due and payable and (iii) to createand maintain any reserves provided for in the resolution authorizing theissuance of, or any trust agreement securing, such bonds; and such fees,purchase price payments, rents and charges may be applied or pledged to thepayment of debt service on the bonds prior to the payment of the costs ofoperating, repairing and maintaining the health care facilities.

(c)        All pledges offees, loan repayments, purchase price payments,  rents, charges and otherrevenues under the provisions of this Chapter shall be valid and binding fromthe time when such pledges are made. All such revenues so pledged andthereafter received by the Commission shall immediately be subject to the lienof such pledge without any physical delivery thereof or further act, and thelien of any such pledge shall be valid and binding as against all partieshaving claims of any kind in tort, contract or otherwise against theCommission, irrespective of whether such parties have notice thereof. Theresolution or any trust agreement by which a pledge is created or any loan agreement,agreement of sale or lease need not be filed or recorded except in the recordsof the Commission.

(d)        The State of NorthCarolina does pledge to and agree with the holders of any bonds or notes issuedby the Commission that so long as any of such bonds or notes are outstandingand unpaid the State will not limit or alter the rights vested in theCommission at the time of issuance of the bonds or notes to fix, revise,charge, and collect or cause to be fixed, revised, charged and collected loan repayments,purchase price payments, rents, fees and charges for the use of or servicesrendered by any health care facilities in connection with which the bonds ornotes were issued, so as to provide a fund sufficient, with such other funds asmay be made available therefor, to pay the costs of operating, repairing andmaintaining the health care facilities, to pay the principal of and theinterest on all bonds and notes as the same shall become due and payable and tocreate and maintain any reserves provided therefor and to fulfill the terms ofany agreements made with the bondholders or noteholders, nor will the State inany way impair the rights and remedies of the bondholders or noteholders untilthe bonds or notes and all costs and expenses in connection with any action orproceedings by or on behalf of the bondholders or noteholders, are fully paid,met and discharged. (1975, c. 766, s. 1; 1979, c. 54, s. 12.)