§ 159I-25. Disbursement. - North Carolina Statutes

§ 159I‑25.  Disbursement.

(a)        The proceeds of any bonds or notes to be used to make loansshall be disbursed by, or pursuant to the direction of, the Office of StateBudget and Management. No such proceeds shall be disbursed until the Office ofState Budget and Management has received from the Division a certificate ofeligibility that states that the applicant meets all eligibility criteria, andthat all procedural requirements of this Chapter have been met.

(b)        Once the prerequisites for disbursement have been satisfiedpursuant to subsection (a) of this section, the proceeds shall be disbursed asthe Board may provide. (1989, c. 756, s. 1; 2000‑140,s. 93.1(a); 2001‑424, s. 12.2(b).)