A BILL TO BE ENTITLED
AN ACT to exempt funds used to secure and repay GARVEE bonds from the equity formula.
The General Assembly of North Carolina enacts:
SECTION 1.  G.S. 136‑17.2A is amended by adding a new subsection to read:
"(j)	Notwithstanding the provisions of subsection (i) of this section, all funds used in repayment of "GARVEE" bonds issued pursuant to G.S. 136‑189(12b) for Phase 1 of the Yadkin River Bridge Project shall not be subject to the provisions of this section."
SECTION 2.  This act becomes effective July 1, 2010.