House amendment makes the following changes to 2nd edition. Amends effective date of the act to clarify that the provisions of Article 9 of GS Chapter 142 relating to the issuance of refunding bonds and notes for the purpose of refunding special indebtedness and to pay the cost of issuance of such refunding bonds or notes remain effective to the extent necessary to permit the State Treasurer to refinance and refund any indebtedness issued, incurred, or authorized to be issued or incurred pursuant to Article 9 of GS Chapter 142 whether such indebtedness is issued or incurred prior to or after such effective date. Makes a clarifying change.
Summary date: Jun 7 2011 - View summary
Summary date: May 26 2011 - View summary
House committee substitute deletes all provisions of 1st edition and replaces them with AN ACT TO REPEAL THE STATE CAPITAL FACILITIES FINANCE ACT. Repeals Article 9 of GS Chapter 142 (State Capital Facilities Finance Act). Makes conforming changes by repealing the following provisions: GS 113-44.15(d) (debt provision related to Parks and Recreation Trust Fund), GS 113-77.9(b3) (debt provision related to Natural Heritage Trust Fund), and GS 113A-256(j) (debt provision related to Clean Water Management Trust Fund). Specifies that the act does not affect debt issued, incurred, or authorized to be issued or incurred before the date the act becomes law, and does not affect any authority to reimburse the General Fund for debt service on special indebtedness issued or incurred under Article 9 of GS Chapter 142.
Summary date: Mar 28 2011 - View summary
Subject to the approval of the state’s qualified voters on November 6, 2012, amends Section 3 of Article V of the North Carolina Constitution to require the approval of a majority of the state’s qualified voters before the General Assembly can authorize the state to purchase, or finance or refinance the purchase, of real property by installment contracts that create a security interest in the property to secure payment of the purchase price to the seller or an entity advancing money or supplying financing for the purchase. Requires that the election be held at the same time as the election for members of the General Assembly. Provides that the new subsection also applies to financing improvement to real property.