§ 142-83. Authorization of special indebtedness; General Assembly approval. - North Carolina Statutes

§ 142‑83.  Authorizationof special indebtedness; General Assembly approval.

The State may incur or issuespecial indebtedness subject to the terms and conditions provided in thisArticle for the purpose of financing the cost of capital facilities that meetone of the following conditions:

(1)        The General Assemblyhas enacted legislation describing the capital facility and authorizing itsfinancing by the incurrence or issuance of special indebtedness up to aspecific maximum amount.

(2)        The General Assemblyhas enacted legislation authorizing the incurrence or issuance of specialindebtedness up to a specific maximum amount for a specific category of capitalfacilities and the capital facility meets all of the conditions set in thatlegislation. (2003‑284,s. 46.2; 2003‑314, s. 1; 2004-203, s. 79.)