{"data":{"id":"us-nc/n.c.-gen.-stat.-116-177","jurisdiction":"us-nc","citation":"N.C. Gen. Stat. § 116-177","heading":"Revenues for payment of bonds; rules for use of facilities.","body":"So long as any bonds issued under this Article shall be outstanding the Board shall fix, and may revise from time to time, rentals for the facilities to be furnished by any project financed under this Article or for the right to use any such facilities or to receive any such services. Such rentals shall be fixed and revised so that the revenues received by the Board from any project or projects, together with any other available funds, will be sufficient at all times\n(1)\tTo pay the cost of maintaining, repairing and operating such project or projects, including reserves for such purposes, and\n(2)\tTo pay when added to increased rentals from existing facilities the principal of and the interest on the bonds for the payment of which such revenues are pledged and to provide reserves therefor.\nThe Board shall increase the rentals for the facilities furnished by any existing dormitories at any institution to provide, to the extent necessary, additional funds to liquidate in full any revenue bonds issued under this Article.\nThe Board is further authorized to make and enforce and to contract to make and enforce parietal rules that shall insure the maximum use of any project or existing facilities. (1957, c. 1131, s. 3.)","path":["Chapter 116. Higher Education.","Article 19. Revenue Bonds for Student Housing."],"source_url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_116/GS_116-177.html","current_through":"S.L. 2026-30","vintage":"","retrieved_at":"2026-08-27T18:17:57Z","sha256":"66a4cb13a34dcb5b48b95746663b6ef8d2bdadc1149a2cf1c4f53ce88fe3e780","source_id":"us-nc","stale":false,"prev":"us-nc/n.c.-gen.-stat.-116-176","next":"us-nc/n.c.-gen.-stat.-116-178"},"notice":"GroundRules: Original legal text. Not legal advice."}