SUBCHAPTER 01H ‑ PRIVATE ACTIVITY BOND VOLUME CAPACITY PROGRAM

SECTION .0100 ‑ GENERAL DESCRIPTION

04 NCAC 01H .0101         BACKGROUND

The rules of this Subchapter apply to the administration of the Private Activity Bond Volume Capacity Program.  Made necessary by Federal legislation, this program will relate to a type of financing now defined and controlled as "private activity" bonds.  Executive Order No. 37, issued by Governor James G. Martin on March 17, 1987 is a response to federal mandates.  It is hereby referenced and incorporated herein as if fully set out in this Paragraph.

History Note:        Authority G.S. 143B‑429; 143B‑430; Ch. 588 (1987 Session Law);

Eff. December 1, 1987;

Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. September 6, 2016.