§ 160B-14. Procedure for issuing general obligation and revenue bonds. - North Carolina Statutes

§ 160B‑14. Procedure for issuing general obligation and revenue bonds.

In issuing its general obligation and revenue bonds, a consolidatedcity‑county, except as expressly modified by this chapter, is subject tothe provisions of Chapter 159 of the General Statutes of North Carolina.

If a proposed bond issue is required by law to be submitted to and approved by the voters of the consolidated government, and if the proceeds ofthe proposed bond issue are to be used in connection with a service, facilityor function that is or, if the bond issue is approved, will be financed,provided or maintained only for one or more urban service districts, theproposed bond issue must be approved concurrently by a majority of those votingthroughout the entire consolidated government and by a majority of the total ofthose voting in all the affected or to be affected urban service districts. (1973, c. 537, s. 1.)