§ 159-82. Purpose. - North Carolina Statutes

§159‑82.  Purpose.

The purpose of this Article isto establish a standard, uniform procedure for the financing by a municipalityof revenue bond projects through the issuance of revenue bonds. Its provisionsare intended to vest authority in and enable municipalities to secure and payrevenue bonds and the interest thereon solely out of revenues without pledgingthe faith and credit of the municipality. (1971, c. 780, s. 1; 1973, c.494, s. 16.)