reglab/housing_qa huggingface dataset:
NC Gen Stat § 116D-47 (2021)
2021 North Carolina General Statutes|Chapter 116D - Higher Education Bonds|Article 4 - Community Colleges Facilities General Obligation Finance Act.|§ 116D-47 - Variable rate demand bonds and notes.

 116D-47. Variable rate demand bonds and notes.(a) In fixing the details of bonds and notes, the State Treasurer may provide that the bonds and notes may:(1) Be made payable from time to time on demand or tender for purchase by the owner, if a credit facility supports the bonds or notes, unless the State Treasurer specifically determines that a credit facility is not required upon a finding and determination by the State Treasurer that the absence of a credit facility will not materially and adversely affect the financial position of the State and the marketing of the bonds or notes at a reasonable interest cost to the State.(2) Be additionally supported by a credit facility.(3) Be made subject to redemption or a mandatory tender for purchase prior to maturity.(4) Bear interest at rates that may vary from any periods of time, as may be provided in the proceedings providing for the issuance of the bonds or notes, including, without limitation, any variations as may be permitted pursuant to a par formula.(5) Be made the subject of a remarketing agreement whereby an attempt is made to remarket bonds or notes to new purchasers prior to their presentment for payment to the provider of the credit facility or to the State.(b) If the aggregate principal amount payable by the State under a credit facility is in excess of the aggregate principal amount of bonds or notes secured by the credit facility, whether as a result of the inclusion in the credit facility of a provision for the payment of interest for a limited period of time or the payment of a redemption premium, or for any other reason, then the amount of authorized but unissued bonds or notes during the term of the credit facility shall not be less than the amount of the excess, unless the payment of the excess is otherwise provided for by agreement of the State executed by the State Treasurer. (2000-3, s. 1.2.)
NC Gen Stat § 116D-48 (2021)
2021 North Carolina General Statutes|Chapter 116D - Higher Education Bonds|Article 4 - Community Colleges Facilities General Obligation Finance Act.|§ 116D-48 - Other agreements.

 116D-48. Other agreements.The State Treasurer may authorize, execute, obtain, or otherwise provide for bond insurance, investment contracts, credit and liquidity facilities, interest rate swap agreements and other derivative products, and any other related instruments and matters the State Treasurer determines are desirable in connection with the issuance of bonds or notes. The State Treasurer is authorized to employ and designate any financial consultants, underwriters, and bond attorneys to be associated with any bond issue under this Article as the State Treasurer considers necessary. (2000-3, s. 1.2.)
NC Gen Stat § 116D-49 (2021)
2021 North Carolina General Statutes|Chapter 116D - Higher Education Bonds|Article 4 - Community Colleges Facilities General Obligation Finance Act.|§ 116D-49 - Procurement of capital facilities.

 116D-49. Procurement of capital facilities.Any laws, rules, or regulations of the State that relate to the acquisition and construction of capital facilities shall apply to the capital facilities financed pursuant to this Article. (2000-3, s. 1.2.)
NC Gen Stat § 116D-55 (2021)
2021 North Carolina General Statutes|Chapter 116D - Higher Education Bonds|Article 5 - Managing Debt Capacity.|§ 116D-55 - Purpose.

 116D-55. Purpose.The purpose of this Article is to provide tools for sound debt management at The University of North Carolina by requiring each constituent institution to conduct an annual debt affordability study, by requiring the establishment of guidelines for maintaining prudent debt levels, and by establishing a system for prioritizing University capital needs when the needs exceed the University's capacity for new debt.  (2015-241, s. 31.13.)
NC Gen Stat § 116D-56 (2021)
2021 North Carolina General Statutes|Chapter 116D - Higher Education Bonds|Article 5 - Managing Debt Capacity.|§ 116D-56 - Debt affordability study required.

 116D-56. Debt affordability study required.(a) Study Required. - The Board of Governors shall annually advise the Governor and the General Assembly on the estimated debt capacity of The University of North Carolina for the upcoming five fiscal years. The Board shall oversee the undertaking of an annual debt affordability study and the establishment of guidelines for evaluating the University's debt burden. The guidelines should include target and ceiling ratios of debt to obligated resources and target and floor percentages for the five-year payout ratio. The Board shall also recommend any other debt management policies it considers desirable and consistent with sound management of the University's debt.(b) Board of Governors Reporting Required. - The Board shall report its findings and recommendations to the Office of State Budget and Management, the Joint Legislative Commission on Governmental Operations, the State Treasurer, and The University of North Carolina System Office by April 1 of each year. The report shall be accompanied by each of the reports provided to the Board pursuant to subsection (c) of this section.(c) Constituent Institution Reporting Required. - No later than February 1 of each year, each constituent institution shall report to the Board of Governors on its current and anticipated debt levels. The report shall be made in a uniform format to be prescribed by the Board of Governors. Each report shall include at least the following:(1) The amount and type of outstanding debt of the institution.(2) The sources of repayment of the debt.(3) The amount of debt that the institution plans to issue or incur during the next five years.(4) A description of projects financed with the debt.(5) The current bond rating of the institution and information about any changes to that bond rating since the last report was submitted.(6) Information about the constituent institution's debt management policies and any recommendations for methods to maintain or improve the University's bond rating.(7) Debt burden comparisons to comparable peer institutions.(8) Any other information requested by the Board of Governors.(d) Definitions. - The following definitions apply in this section:(1) Debt. - Debt incurred under this Chapter or any other debt that will be serviced with funds available to the institutions from gifts, grants, receipts, Medicare reimbursements for education costs, hospital receipts from patient care, or other funds, or any combination of these funds, but not including debt that will be serviced with funds appropriated from the General Fund of the State.(2) Obligated resources. - As defined in G.S. 116D-22.  (2015-241, s. 31.13; 2016-94, s. 37.6; 2018-12, s. 13.)
NC Gen Stat § 117-1 (2021)
2021 North Carolina General Statutes|Chapter 117 - Electrification|Article 1 - Rural Electrification Authority.|§ 117-1 - Rural Electrification Authority created; appointments; terms of members.

 117-1. Rural Electrification Authority created; appointments; terms of members.An agency to be known as the North Carolina Rural Electrification Authority is hereby created as an agency of the State of North Carolina, such agency to consist of five members to be appointed by the Governor of North Carolina. Current members of the North Carolina Rural Electrification Authority shall complete their respective terms of office. On or after June 5, 1975, the Governor shall appoint two members to replace those members whose terms expire on said date. All appointments made by the Governor shall be made for terms of four years. (1935, c. 288, s. 1; 1975, c. 709, s. 7.)
NC Gen Stat § 117-2.1 (2021)
2021 North Carolina General Statutes|Chapter 117 - Electrification|Article 1 - Rural Electrification Authority.|§ 117-2.1 - Additional powers.

 117-2.1. Additional powers.In addition to the powers provided in G.S. 117-2, the Authority is empowered, authorized and directed to make, promulgate and implement plans and programs whereby the electric membership corporations organized or domesticated under this Chapter shall promote and foster methods of conserving electric energy in accordance with provisions of the National Energy Act as delegated to the states. (1979, c. 285, s. 1.)
NC Gen Stat § 117-3 (2021)
2021 North Carolina General Statutes|Chapter 117 - Electrification|Article 1 - Rural Electrification Authority.|§ 117-3 - Authority not granted power to fix rates or order line extensions; right of suggestion and petition.

 117-3. Authority not granted power to fix rates or order line extensions; right of suggestion and petition.The Authority itself shall not be a rate-making body, and shall have no power to fix the rates or service charges, or to order the extension of lines by the power companies. The function of making rates and service charges and orders for the extension of lines shall remain in the Utilities Commission of North Carolina, and the Authority shall only have the right of suggestion and petition to the Utilities Commission of its opinion as to the proper rates and service charges and line extensions, and no rate recommended or suggested by the Authority shall be effective until approved by the Utilities Commission: Provided, that if the Utilities Commission of North Carolina does not have the right under the existing law to fix service charges in addition to the rates prescribed for electrical energy, and the power to order line extensions, such power and authority is hereby granted the Utilities Commission of North Carolina to fix and promulgate service charges in addition to rates in any community which avails itself of this Article, and form a corporation authorized hereunder to be known as electric membership corporation, and to order line extensions when it shall determine that the same is proper and feasible. (1935, c. 288, s. 3.)
NC Gen Stat § 117-4 (2021)
2021 North Carolina General Statutes|Chapter 117 - Electrification|Article 1 - Rural Electrification Authority.|§ 117-4 - Organization meeting of Authority; chairman and secretary.

 117-4. Organization meeting of Authority; chairman and secretary.Promptly after their appointment the Authority shall meet and organize at such meeting, and at the first meeting of each year thereafter, the members shall choose from their number a chairman. They shall also choose a secretary, who shall be a competent engineer and shall fix his salary subject to the approval as provided in G.S. 143-35 to 143-47. (1935, c. 288, s. 4.)
NC Gen Stat § 117-5 (2021)
2021 North Carolina General Statutes|Chapter 117 - Electrification|Article 1 - Rural Electrification Authority.|§ 117-5 - Compensation and expenses.

 117-5. Compensation and expenses.All members of the Authority, except the secretary, shall receive as compensation for their services per diem and actual expenses incurred while in the performance of their duties in accordance with the provisions of G.S. 138-5. (1935, c. 288, s. 5; 1939, c. 97; 1975, c. 709, s. 8.)
NC Gen Stat § 117-6 (2021)
2021 North Carolina General Statutes|Chapter 117 - Electrification|Article 2 - Electric Membership Corporations.|§ 117-6 - Title of Article.

 117-6. Title of Article.This Article may be cited as the "Electric Membership Corporation Act." (1935, c. 291, s. 1.)
NC Gen Stat § 117-7 (2021)
2021 North Carolina General Statutes|Chapter 117 - Electrification|Article 2 - Electric Membership Corporations.|§ 117-7 - Definitions.

 117-7. Definitions.The following terms, whenever used or referred to in this Article, shall have the following meanings, unless a different meaning clearly appears from the context:(1) "Acquire" shall mean acquire by purchase, lease, devise, gift or other mode of acquisition.(2) "Board" shall mean the board of directors of a corporation formed under this Article.(3) "Corporation" shall mean a corporation formed under this Article.(4) "Federal agency" shall mean and include the United States of America, the President of the United States of America, the Federal Emergency Administrator of Public Works and any and all other authorities, agencies, and instrumentalities of the United States of America, heretofore or hereafter created.(5) "Law" shall mean any act or statute, general, special or local of this State.(6) "Person" shall mean and include natural persons, firms, associations, corporations, business trusts, partnerships and bodies politic. (1935, c. 291, s. 2.)
NC Gen Stat § 117-8 (2021)
2021 North Carolina General Statutes|Chapter 117 - Electrification|Article 2 - Electric Membership Corporations.|§ 117-8 - Formation in unserved communities; filing application with Rural Electrification Authority.

 117-8. Formation in unserved communities; filing application with Rural Electrification Authority.When any number of persons residing in the community not served, or inadequately served, with electrical energy desire to secure electrical energy for their community and desire to form corporations to be known as electric membership corporations for said purpose, they shall file application with the North Carolina Rural Electrification Authority for permission to form such corporation. (1935, c. 291, s. 3.)
NC Gen Stat § 117-9 (2021)
2021 North Carolina General Statutes|Chapter 117 - Electrification|Article 2 - Electric Membership Corporations.|§ 117-9 - Issuance of privilege for formation of such corporation.

 117-9. Issuance of privilege for formation of such corporation.Whenever any such application is made by as many as five members of the community, the North Carolina Rural Electrification Authority shall cause a survey of said territory to be made and if, in its opinion, the proposal is feasible, shall issue to said community a privilege for the formation of a corporation as hereinafter set out. Whenever an application has been filed by any community with the North Carolina Rural Electrification Authority, and its application for formation of an electric membership corporation has been approved, the same may be formed as hereinafter provided. (1935, c. 291, s. 4.)
NC Gen Stat § 117-10 (2021)
2021 North Carolina General Statutes|Chapter 117 - Electrification|Article 2 - Electric Membership Corporations.|§ 117-10 - Formation authorized.

 117-10. Formation authorized.Any number of natural persons not less than three may, by executing, filing and recording a certificate as hereinafter provided, form a corporation not organized for pecuniary profit for the purpose of promoting and encouraging the fullest possible use of electric energy in the rural section of the State by making electric energy available to inhabitants of the State at the lowest cost consistent with sound economy and prudent management of the business of such corporations. (1935, c. 291, s. 5.)
NC Gen Stat § 117-10.1 (2021)
2021 North Carolina General Statutes|Chapter 117 - Electrification|Article 2 - Electric Membership Corporations.|§ 117-10.1 - Municipal franchises.

 117-10.1. Municipal franchises.An electric membership corporation shall be eligible to receive a franchise pursuant to G.S. 160-2(6) from any city or town:(1) In which such electric membership corporation is on April 20, 1965 furnishing electric service at retail to a majority of the electric meters; or(2) To which such electric membership corporation is on April 20, 1965 furnishing the entire supply of electricity at wholesale; or(3) Which is newly incorporated subsequent to April 20, 1965, and in which on the effective date of such incorporation the electric membership corporation is furnishing electric service at retail to a majority of the meters. (1965, c. 287, s. 9.)
NC Gen Stat § 117-10.2 (2021)
2021 North Carolina General Statutes|Chapter 117 - Electrification|Article 2 - Electric Membership Corporations.|§ 117-10.2 - Restriction on municipal service.

 117-10.2. Restriction on municipal service.Except as otherwise provided in this section, no electric membership corporation shall furnish electric service to, or within the limits of, any incorporated city or town, except pursuant to a franchise that may be granted under the provisions of G.S. 117-10.1, or as permitted under G.S. 160A-331, 160A-331.2, 160A-332, and 160A-333. In addition, an electric membership corporation may furnish electric service to, or within the limits of, any incorporated city or town if the city or town and all electric suppliers, including public utilities, other electric membership corporations and other cities or towns, then furnishing electric service to or within such city or town consent thereto in writing. (1965, c. 287, s. 10; 1997-346, s. 3; 1999-111, s. 1; 2005-150, s. 6; 2007-419, s. 2.)
NC Gen Stat § 117-11 (2021)
2021 North Carolina General Statutes|Chapter 117 - Electrification|Article 2 - Electric Membership Corporations.|§ 117-11 - Contents of certificate of incorporation.

 117-11. Contents of certificate of incorporation.(a) Required Provisions. - The certificate of incorporation shall be entitled and endorsed "Certificate of Incorporation of ______ Electric Membership Corporation" (the blank space being filled in with the name of the corporation), and shall state:(1) The name of the corporation, which name shall be such as to distinguish it from any other corporation.(2) A reasonable description of the territory in which its operations are principally to be conducted.(3) The location of its principal office and the post-office address thereof.(4) The maximum number of directors, not less than three.(5) The names and post-office addresses of the directors, not less than three, who are to manage the affairs of the corporation for the first year of its existence, or until their successors are chosen.(6) The period, if any, limited for the duration of the corporation. If the duration of the corporation is to be perpetual, this fact should be stated.(7) The terms and conditions upon which members of the corporation shall be admitted.(b) Permissible Provisions. - The certificate of incorporation of a corporation may also contain any provision not contrary to law which the incorporators may choose to insert for the regulation of its business, and for the conduct of the affairs of the corporation; and any provisions, creating, defining, limiting or regulating the powers of the corporation, its directors and members. (1935, c. 291, s. 6.)
NC Gen Stat § 117-12 (2021)
2021 North Carolina General Statutes|Chapter 117 - Electrification|Article 2 - Electric Membership Corporations.|§ 117-12 - Execution and filing of certificate of incorporation by residents of territory to be served.

 117-12. Execution and filing of certificate of incorporation by residents of territory to be served.The natural persons executing the certificate of incorporation shall be residents of the territory in which the principal operations of the corporation are to be conducted who are desirous of using electric energy to be furnished by the corporation. The certificate of incorporation shall be acknowledged by the subscribers before an officer qualified to administer oaths. When so acknowledged, the certificate may be filed in the office of the Secretary of State, who shall forthwith prepare a certified copy or copies thereof and forward one to the register of deeds in each county in which a portion of the territory of the corporation is located, who shall forthwith file such certified copy or copies in their respective offices and record the same as other certificates of incorporation are recorded. As soon as the provisions of this section have been complied with, the proposed corporation described in the certificate so filed, under its designated name, shall be and constitute a body corporate. (1935, c. 291, s. 7; 1967, c. 823, s. 32.)
NC Gen Stat § 117-13 (2021)
2021 North Carolina General Statutes|Chapter 117 - Electrification|Article 2 - Electric Membership Corporations.|§ 117-13 - Board of directors; compensation; president and secretary.

 117-13. Board of directors; compensation; president and secretary.Each corporation formed under this Article shall have a board of directors, in which management of the affairs of the corporation is vested. The directors of the corporation, other than those named in its certificate of incorporation, shall be elected annually by the members entitled to vote, but if the bylaws so provide the directors may be elected on a staggered-term basis: Provided, that the total number of directors on a board shall be so divided that not less than one third of them, or as nearly thereto as their division for that purpose will permit, shall be elected annually, and no term shall be longer than for three years; and provided further that, except as may be necessary in inaugurating such a plan, all directors shall be elected for terms of equal duration. The directors shall be entitled to receive for their services only such compensation as is provided in the bylaws. The board shall elect annually from its own number a president and a secretary. The directors must be members of the corporation, except that for those corporations whose principal purpose is to furnish bulk electric wholesale power supplies and whose membership consists of other electric membership corporations, the directors may be members, directors, officers or managers of the member corporations, and shall be elected by the member corporation's board of directors. (1935, c. 291, s. 8; 1959, c. 387, s. 1; 1969, c. 760; 1975, c. 314; 1979, c. 285, s. 2; 1981, c. 478.)
NC Gen Stat § 117-14 (2021)
2021 North Carolina General Statutes|Chapter 117 - Electrification|Article 2 - Electric Membership Corporations.|§ 117-14 - Powers of board.

 117-14. Powers of board.The board shall have power to do all things necessary or convenient in conducting the business of a corporation, including, but not limited to:(1) The power to adopt and amend bylaws for the management and regulation of the affairs of the corporation: Provided however, that the certificate of incorporation may reserve to the members of the corporation the power to amend the bylaws. The bylaws of a corporation may make provisions not inconsistent with law or its certificate of incorporation, regulating the admission, withdrawal, suspension or expulsion of members; the transfer of membership; the fees and dues of members and the termination of memberships on nonpayment of dues or otherwise; the number, times and manner of choosing, qualifications, terms of office, official designations, powers, duties, and compensations of its officers; defining a vacancy in the board or in any office and the manner of filling it; the number of members to constitute a quorum at meetings, the date of the annual meeting and the giving of notice thereof, and the holding of special meetings and the giving of notice thereof; the terms and conditions upon which the corporation is to render service to its members; the disposition of the revenues and receipts of the corporation; regular and special meetings of the board and the giving of notice thereof.(2) To appoint agents and employees and to fix their compensation and the compensation of the officers of the corporation.(3) To execute instruments.(4) To delegate to one or more of the directors or to the agents and employees of a corporation such powers and duties as it may deem proper.(5) To make its own rules and regulations as to its procedure. (1935, c. 291, s. 9; 1941, c. 260.)
NC Gen Stat § 117-15 (2021)
2021 North Carolina General Statutes|Chapter 117 - Electrification|Article 2 - Electric Membership Corporations.|§ 117-15 - Certificates of membership.

 117-15. Certificates of membership.A corporation may issue to its members certificates of membership and each member shall be entitled to only one vote at the meetings of the corporation. (1935, c. 291, s. 10.)