§ 159-49. When a vote of the people is required. - North Carolina Statutes

§ 159‑49.  When avote of the people is required.

Bonds may be issued under this Article only if approved by a vote ofthe qualified voters of the issuing unit as provided in this Article, exceptthat voter approval shall not be required for:

(1)        Bonds issued for any purpose authorized by G.S. 159‑48(a)(1),(2), (3), or (5).

(2)        Bonds issued by a county, county water and sewer districtcreated under Article 6 of Chapter 162A of the General Statutes, metropolitanwater district created under Article 4 of Chapter 162A of the General Statutes,or city for any purpose authorized by G.S. 159‑48(a)(4), (6), or (7) orG.S. 159‑48(b), (c), (d), or (e) (except purposes authorized by G.S. 159‑48(b)(3),(11), (16), (22), or (23) or by G.S. 159‑48(d)(2)) in an aggregateprincipal sum not exceeding two thirds of the amount by which the outstandingindebtedness of the issuing county, county water and sewer district,metropolitan water district, or city has been reduced during the next precedingfiscal year.

Pursuant to Article V, Sec. 4(2) of the Constitution, the GeneralAssembly hereby declares that the purposes authorized by G.S. 159‑48(a)(4),(6), and (7) and by G.S. 159‑48(b), (c), (d), and (e) (except purposesauthorized by G.S. 159‑48(b)(3), (11), (16), (22), or (23) or by G.S. 159‑48(d)(2))are purposes for which bonds may be issued without a vote of the people, to theextent of two thirds of the amount by which the outstanding indebtedness of theissuing county, county water and sewer district, metropolitan water district,or city was reduced in the last preceding fiscal year. (1971, c. 780, s. 1; 1973, c. 494, s. 5; 1977, c. 402,s. 3; 1989, c. 470.)