§ 142-16. Governor and Council of State may borrow on note. - North Carolina Statutes

Article2.

Borrowing Money inEmergencies and in Anticipation of Collection of Taxes.

§ 142‑16.  Governor andCouncil of State may borrow on note.

The Governor and Council ofState may authorize and empower the State Treasurer in the intervals betweensessions of the General Assembly, to borrow money on short term notes to meetany emergency arising from the destruction of the State's property, whetherused by department or institution, or from some unforeseen calamity notamounting to its destruction. (1927, c. 49, s. 1.)