GENERAL ASSEMBLY OF NORTH CAROLINA
SESSION 2001

SESSION LAW 2001-238
SENATE BILL 123

AN ACT TO AUTHORIZE LOCAL GOVERNMENTS TO ISSUE SPECIAL OBLIGATION BONDS FOR WATER AND SEWER PROJECTS. 

The General Assembly of North Carolina enacts:

SECTION 1.  G.S. 159I‑30(a) reads as rewritten:
"(a)	Authorization. – Any unit of local government may borrow money for the purpose of financing or refinancing its cost of the acquisition or construction of a project and may issue special obligation bonds and notes, including bond anticipation notes and renewal notes, pursuant to the provisions of this section and the applicable provisions of this Chapter for this purpose. As used in this section, the term 'project' has the meaning provided in G.S. 159I‑3 and also includes any of the following as defined in S.L. 1998‑132: water supply systems, water conservation projects, water reuse projects, wastewater collection systems, and wastewater treatment works."
SECTION 2.  The title of Chapter 159I of the General Statutes reads as rewritten:
"Chapter 159I.
Solid Waste Management Loan Program and
Local Government Special Obligation Bonds."
SECTION 3.  This act is effective when it becomes law.
In the General Assembly read three times and ratified this the 13th day of June, 2001.

	s/	 Beverly E. Perdue
	 President of the Senate

	s/	 James B. Black
	 Speaker of the House of Representatives

	s/	 Michael F. Easley
	 Governor

Approved 2:05 p.m. this 23rd day of June, 2001