§ 159-106. Order approving or denying the application. - North Carolina Statutes

§ 159‑106.  Orderapproving or denying the application.

(a)        After consideringan application, the Commission shall enter its order either approving ordenying the application. An order approving an issue is not an approval of thelegality of the debt instruments in any respect.

(b)        Unless the debtinstruments are to be issued for a development financing district for which aproject development financing debt instrument issue has already been approved,the day the Commission enters its order approving an application for projectdevelopment financing debt instruments is also the effective date of thedevelopment financing district for which the instruments are to be issued.

(c)        If the Commissionenters an order denying the application, the proceedings under this Article areat an end. (2003‑403,s. 2.)