GENERAL ASSEMBLY OF NORTH CAROLINA
SESSION 2001
S	1
SENATE BILL 1015
     

 
Short Title:	Industrial/Pollution Control Facilities Finance.	()	
Sponsors:	Senator Rand.	
Referred to:	Finance.	
April 5, 2001

A BILL TO BE ENTITLED
AN ACT to amend the industrial and pollution control facilities financing act and the north carolina industrial and pollution control facilities pool program financing act.

The General Assembly of North Carolina enacts:
SECTION 1.  G.S. 159C‑3(15a) reads as rewritten:
"(15a)	Special purpose project. – Any structure, equipment, or other facility for any one or more of the following purposes:
a.	Water systems or facilities, including all plants, works, instrumentalities, and properties used or useful in obtaining, conserving, treating, and distributing water for domestic or industrial use, irrigation, sanitation, fire protection, or any other public or private use.
b.	Sewage disposal systems or facilities, including all plants, works, instrumentalities, and properties used or useful in the collection, treatment, purification, or disposal of sewage, other than facilities constituting a water pollution control facility.
c.	Public transportation systems, facilities, or equipment, including bus, truck, ferry, and railroad terminals, depots, trackages, vehicles, and ferries, bridges, tunnels, and toll roads, and mass transit systems.
d.	Public parking lots, areas, garages, and other public vehicular parking structures and facilities.
e.	Public auditoriums, gymnasiums, stadiums, museums, art galleries, and convention centers.
f.	Recreational facilities.
g.	Land, equipment, and facilities for the disposal, treatment, or recycling of solid or other waste that are described in G.S. 159I‑8.
h.	Facilities  or portions of facilities to be used by a not-for-profit corporation in any activity in which such corporation may lawfully engage.
i.	Improvements on or remediation to brownfields property as described in G.S. 130A-310.31.
j.	Facilities for the generation, transmission, or distribution of electric energy or gas.
k.	Any facilities to be leased or sold in an installment sale to the State, an agency thereof, or a political subdivision."
SECTION 2.  G.S. 159D‑37(6b) reads as rewritten:
"(6b)	"Special purpose institution" means a for‑profit or not‑for‑profit corporation, partnership, limited liability company, or similar  entity, the State or an agency thereof or a political subdivision that undertakes any of the activities set forth in sub‑subdivisions (6a)b. and (6a)c. of this section."
SECTION 3.  G.S. 159D‑45(f) reads as rewritten:
"(f)	Before the issuance of bonds pursuant to this Article to finance a project, the Agency shall hold a public hearing with respect to the proposed project and the issuance of the bonds to finance the proposed project. The public hearing may be held at any location designated by the Agency, including at the offices of the Agency in Raleigh, North Carolina.
The public hearing may be conducted by the Agency or by a hearing officer designated by the Agency to conduct public hearings. Notice of the public hearing must be published at least once in at least one newspaper of general circulation in the county where the proposed project is to be located not less than 14 days before the public hearing. The notice must describe generally the bonds proposed to be issued and the proposed project, including its general location, and any other information the Agency considers appropriate. A copy of the notice of public hearing must be mailed to the clerk of the Board of Commissioners of the county in which the proposed project is to be located and to the governing body of any city or town in which the proposed project is to be operated. The approval by such Board of Commissioners or governing body is not required for the issuance of the bonds by the agency."
SECTION 4.  Chapter 159D of the General Statutes is amended by adding a new section to read:
"§ 159D-58. Joint projects; local government and State participation.
(a)	Projects or portions of projects separately or jointly owned by the State or an agency thereof, a political subdivision, or a special purpose institution as defined in G.S. 159D-37 may be financed pursuant to this Article either jointly or separately as may be determined by the Local Government Commission.
(b)	The costs of projects to be acquired, constructed, and owned by a special purpose institution which are expected to be leased or sold to the State or an agency thereof or a political subdivision upon their completion and acceptance by the State or an agency thereof or a political subdivision may be financed under this Article with such special purpose institution as the participating institution and the anticipated lease or installment sale agreement to the State or an agency thereof or a political subdivision taken into account under G.S. 159D-40(b)."
SECTION 5.  This act is effective when it becomes law.