§ 162A-13. Refunding bonds. - North Carolina Statutes

§ 162A‑13. Refunding bonds.

Each authority is hereby authorized to issue from time to time revenuerefunding bonds for the purpose of refunding any revenue bonds of the authoritythen outstanding, including the payment of any redemption premium thereon andany interest accrued or to accrue to the date of redemption of such bonds. Theauthority is further authorized to issue from time to time revenue bonds of theauthority for the combined purpose of

(1)        Refunding any revenue bonds or revenue refunding bonds ofthe authority then outstanding, including the payment of any redemption premiumthereon and any interest accrued or to accrue to the date of redemption of suchbonds, and

(2)        Paying all or any part of the cost of acquiring orconstructing any additional water system or sewer system or part thereof, orany improvements, extensions or enlargements of any water system or sewersystem.

Theissuance of such bonds, the maturities and other details thereof,  the rightsand remedies of the holders thereof, and the rights, powers, privileges, dutiesand obligations of the authority with respect to the same, shall be governed bythe foregoing provisions of this Article insofar as the same may be applicable.(1955, c. 1195, s. 12;1971, c. 892, s. 1.)