AN ACT TO MODIFY THE TERMS OF CONVEYANCE OF A CERTAIN PARCEL OF LAND TO PENDER COUNTY TO ENABLE CERTAIN FINANCING OPTIONS NEEDED IN THE CONSTRUCTION OF A JAIL FACILITY. SL 2023-35. Enacted June 9, 2023. Effective June 9, 2023.
Bill Summaries: H 412 MODIFY PROPERTY TRANSFER TO PENDER COUNTY.
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Bill H 412 (2023-2024)Summary date: Jun 12 2023 - View Summary
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Bill H 412 (2023-2024)Summary date: May 23 2023 - View Summary
Senate committee substitute to the 2nd edition makes the following changes.
Make a clarifying change to the reference to property on which the jail facility is to be constructed in Section 2 of the act.
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Bill H 412 (2023-2024)Summary date: Apr 25 2023 - View Summary
House committee substitute to the 1st edition makes the following changes.
Amends Section 2 of SL 2019-137 (pertaining to the conveyance of certain property to Pender County by the State so long as the property is used as a jail and law enforcement center) as follows. Allows Pender County to grant one or more deeds of trust (was, a deed) or similar security instruments related to the property in connection with the financing or refinancing of construction, acquisition, and equipping of the intended facility or the financing or refinancing of improvements, additions, or repairs to the property. Provides that the reversionary interest reserved by the State will be subordinate to any deeds of trust or similar security instruments granted by Pender County (was, if Pender County grants a deed of trust or similar security instrument related to the property conveyed by the State, the State’s reversionary interest in the property will be subordinate to the interest conveyed in the security instrument).
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Bill H 412 (2023-2024)Summary date: Mar 16 2023 - View Summary
Amends Section of SL 2019-137 (pertaining to the conveyance of certain property to Pender County by the State so long as the property is used as a jail and law enforcement center) as follows. Adds the stipulation that if, Pender County grants a deed of trust or similar security instrument related to the property conveyed by the State, the State’s reversionary interest in the property will be subordinate to the interest conveyed in the security instrument. Requires the Department of Administration to execute and provide any instruments of title or other documentation required by Pender County to facilitate or obtain financing agreements in connection with the construction of a jail facility on the subject property.