Bill Summary for H 491 (2011-2012)

Summary date: 

Jun 7 2011

Bill Information:

View NCGA Bill Details2011-2012 Session
House Bill 491 (Public) Filed Monday, March 28, 2011
TO REQUIRE A VOTE OF THE PEOPLE FOR THE STATE OF NORTH CAROLINA TO ISSUE CERTIFICATES OF PARTICIPATION.
Intro. by R. Brown, Cleveland.

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Bill summary

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.

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