AN ACT TO AMEND AND CLARIFY THE POWERS OF WATER AND SEWER AUTHORITIES, TO AUTHORIZE COUNTIES AND CITIES TO PLEDGE A SECURITY INTEREST IN AN ESCROW ACCOUNT UNDER CERTAIN CONDITIONS, TO ALLOW THE LOCAL GOVERNMENT COMMISSION TO AUTHORIZE A THIRTY‑YEAR MATURITY DATE FOR THE FINANCING OF CERTAIN WATER SYSTEM PROJECTS, TO AUTHORIZE METROPOLITAN WATER DISTRICTS AND METROPOLITAN WATER AND SEWERAGE DISTRICTS TO ENTER INTO INSTALLMENT CONTRACT FINANCING AGREEMENTS, AND TO REQUIRE PUBLIC OR COMMUNITY WASTEWATER SYSTEMS TO ACCEPT LIQUID CONDENSATE GENERATED BY RESIDENTIAL HEATING AND COOLING SYSTEMS. Enacted August 11, 2015. Effective August 11, 2015.
Summary date: Aug 12 2015 - View summary
Summary date: Jul 28 2015 - View summary
Senate amendment makes the following changes to the 4th edition.
Adds a section to the act enacting new GS 130A-345, which requires every public or community wastewater system to collect liquid condensate from residential heating and cooling systems. Effective when the act becomes law. Makes conforming changes to the act's long title.
Summary date: Jul 23 2015 - View summary
Senate committee substitute makes the following changes to the 3rd edition.
Amends the act's long title.
Renumbers and renames proposed GS 158-7.5, Security interests in rural economic development loans as GS 160A-17.2, Security interests in United States Department of Agriculture loans. Deletes subsection (a) and replaces it with provisions providing that a county or municipality can pledge a security interest in an escrow account funded with loan proceeds or a certificate of deposit in order to secure repayment of the loan if the loan is an interest-free agreement entered into with the US Department of Agriculture or other authorized intermediary. Requires the escrow accounts to be substantiated by a written escrow agreement. Sets other compliance requirements for deposits/certificates of deposits.
Amends GS 159G-40(b), deleting language which provided that the maximum maturity for a loan for a high unit cost project is 30 years or the project's expected life, whichever is shorter. Provides that the changes in the act to GS 159G-40 become effective when the act becomes law but expire on July 1, 2016, with such sunset not affecting the validity of any loan agreement approved before or loan increases approved after the sunset if the loan was approved in accordance with GS 159G-40.
Amends GS 160A-20(h) to provide that the term "unit of local government" also includes metropolitan water districts and metropolitan water and sewer districts.
Amends GS 162A-36(a) and GS 162A-69 to provide that metropolitan water and sewerage districts have the authority to pledge security interests in accordance with GS 160A-20.
Makes technical changes.
Summary date: Jul 21 2015 - View summary
Senate committee substitute makes the following changes to the 2nd edition.
Amends the act's short and long titles.
Amends GS 162A-6(a), concerning the powers and duties of water and sewer authorities, making a clarifying change concerning reimbursement agreements with private developers or property owners.
Enacts GS 158-7.5, Security interests in rural economic development loans, allowing counties or municipalities that enter into an interest free loan agreement whereby they borrow money in connection with an economic development incentive arrangement to pledge a security interest in an escrow account to secure repayment or a certificate of deposit of the interest free loan. Provides that interest free loan arrangements are subject to the approval of the Local Government Commission. Prohibits deficiency judgments against counties or municipalities in actions for breach of a contractural obligation authorized under this statute, as well as pledging the taxing power to secure any moneys due under a duly authorized contract.
Amends GS 159G-40(b) concerning interest rates and maturity for water infrastructure loans, to allow the Local Government Commission to extend the maximum maturity date from 20 years to 30 years for targeted interest rate loans for certain projects if (1) the project serves a system that is ranked as Tier I on the 2007-08 Tier Drought Vulnerability List and (2) the loan amount is at least eight times the amount of the operating revenue of the unit's system for which the loan is being granted.
Summary date: Apr 16 2015 - View summary
House committee substitute to the 1st edition makes technical changes.
Summary date: Apr 2 2015 - View summary
Amends GS 162A-6(a)(14c), concerning the powers and duties of water and sewer authorities to adopt ordinances, making technical and clarifying changes. Also adds the authority to adopt ordinances for the regulation and control of a water system owned or operated by the authority. Adds two additional powers to the list, including entering into reimbursement agreements with private developers and property owners for the design and construction of infrastructure that is included on the authority's capital improvement plan and that serves the developer or property owner. Sets out processes for entering such agreements. Authorizes water and sewer authorities to offer and pay rewards in an amount not to exceed $500 for information leading to the arrest and conviction of any person who willfully defaces, damages or destroys, or commits acts of vandalism or larceny of any authority property.