§ 160A-543. Bonds authorized. - North Carolina Statutes

§ 160A‑543.  Bondsauthorized.

A city may incur debt undergeneral law to finance services, facilities or functions provided within aservice district. If a proposed general obligation bond issue is required bylaw to be submitted to and approved by the voters of the city, and if theproceeds of the proposed bond issue are to be used in connection with a servicethat is or, if the bond issue is approved, will be provided only for one ormore service districts or at a higher level in service districts than citywide, the proposed bond issue must be approved concurrently by a majority ofthose voting throughout the entire city and by a majority of the total of thosevoting in all of the affected or to be affected service districts. (1973, c. 655, s. 1; 2004‑151,s. 4.)