§ 143-215.62. Revolving fund established; conditions and procedures. - North Carolina Statutes

Part 6A. Hurricane Flood Protection and Beach ErosionControl Project Revolving Fund.

§ 143‑215.62.  Revolving fund established;conditions and procedures.

(a)        There is established under the control and direction of theDepartment a Hurricane Flood Protection and Beach Erosion Control ProjectRevolving Fund, to consist of any moneys that may be appropriated for usethrough the fund by the General Assembly or that may be made available to itfrom any other source for the purpose of financing the local portion of thenonfederal share of the cost of hurricane flood protection and beach erosioncontrol projects. The Department shall, when funds are available, and inaccordance with priorities established by the Commission, make advances fromthe fund to any county or municipality for:

(1)        Advance planning and engineering work necessary or desirablein order to promote the development, construction, or preservation of hurricaneflood protection and beach erosion works or projects;

(2)        Construction of hurricane flood protection and beacherosion  control works or projects, or other related costs which are aresponsibility of local government, including costs associated withconstruction, such as the acquisition of land or rights‑of‑way orthe relocation of public roads and utilities;

(3)        Maintenance and nourishment of the constructed works orproject.

Suchadvances shall be subject to repayment by the recipient to the Department fromthe proceeds of bonds or other obligations for the beach erosion control andhurricane flood protection works or projects, or from other funds available tothe recipient, including grants.

(b)        Prior to making any advance to a county or municipalgovernment the Commission shall advise the county or municipal government:

(1)        Its opinion as to whether or not the projected works orproject would further beach erosion control or provide protection to life orproperty from floodwaters resulting from hurricanes;

(2)        Its opinion as to whether or not there is a reasonableprospect of federal aid in the financing of the projected works or project andwhether or not the advance will exceed the local portion of the nonfederalshare of the cost of the works or project to be financed by the county ormunicipality making the application;

(3)        Its opinion as to whether or not the anticipated financialoutlays in connection with the projected works or project for the county ormunicipality making the application would constitute an unreasonable burden onthe citizens of the county or municipality.

TheCommission shall authorize no advance to a county or municipal governmentwithout first receiving satisfactory assurances from such government that theprojected works or project shall be undertaken and the funds advanced repaid asprovided herein.

(c)        Repayment of any advance may be in equal installments or ina lump sum, but the term for such repayment shall not exceed a term of 10years. All moneys received from repayments on advances shall be paid into therevolving fund and shall be used for the purposes set forth in this section.

(d)        Repealed by Session Laws 1987, c. 827, s. 185. (1971, c. 1159, s. 1; 1973, c. 1262, s. 23; 1977, c.771, s. 4; 1987, c. 827, ss. 154, 185 .)