§ 131E-26. Revenue bonds and notes. - North Carolina Statutes

§ 131E‑26.  Revenuebonds and notes.

(a)        A hospital authority shall have the power to issue revenuebonds under the Local Government Revenue Bond Act, Chapter 159 of the GeneralStatutes, Article 5, or the bond and revenue anticipation provisions of Chapter159 of the General Statutes, Article 9, for the purpose of acquiring,constructing, reconstructing, improving, enlarging, bettering, equipping,extending or operating hospital facilities.

(b)        A hospital authority shall have the power to borrow for thepurposes above enumerated upon its notes or other evidences of indebtedness,subject to the approval of the Local Government Commission as provided in G.S.131E‑32(c). Such approval shall be required regardless of the amount ofany such borrowing. Any borrowing by a hospital authority before the date ofratification of Part 2 of Article 2 of this Chapter, whether or not approved bythe Local Government Commission, is valid, ratified and confirmed. (1983, c. 775, s. 1.)