Senate committee substitute makes the following changes to 1st edition. Deletes in its entirety proposed GS 159-142 regarding the timely payments of bonds. Deletes amendments to GS 159-56 and GS 159I-30(g)(3) made in the previous edition. Amends GS 159-54, clarifying that a bond order will be introduced before the governing board of the issuing unit after or at the same time the application is filed with the Local Government Commission (was, after or at the same time the publication of the notice of intent to make application is approved).
Rewrites Section 5 of SL 2008-165 to remove the sunset on special assessments for critical infrastructure needs (currently expires July 1, 2013). Makes other clarifying changes, and makes a conforming change to the bill title.