{"data":{"id":"us-nc/n.c.-gen.-stat.-159-193","jurisdiction":"us-nc","citation":"N.C. Gen. Stat. § 159-193","heading":"Definitions.","body":"The following definitions apply in this Article:\n(1)\tGovernmental unit. - Any of the following:\na.\tA unit of local government as defined in G.S. 159-44.\nb.\tA municipality as defined in G.S. 159-81.\nc.\tA joint agency as defined in G.S. 159B-3.\nd.\tAny department, agency, board, commission, or authority of the State that is authorized by law to issue bonds.\ne.\tThe State Treasurer in connection with the issuance, incurrence, carrying, or securing of obligations for or on behalf of the State pursuant to an act of the General Assembly.\n(2)\tObligations. - Any of the following:\na.\tBonds, notes, bond anticipation notes, or other evidences of indebtedness issued by a governmental unit.\nb.\tLease purchase or installment financing agreements entered into by a governmental unit.\n(3)\tSwap agreement. - Any of the following:\na.\tAn agreement, including terms and conditions incorporated by reference in the agreement, that is a rate swap agreement, basis swap, forward rate agreement, interest rate option, rate cap agreement, rate floor agreement, rate collar agreement, or other similar agreement, including any option to enter into or terminate any of the foregoing.\nb.\tAny combination of the agreements described in sub-subdivision a. of this subdivision.\nc.\tA master agreement for any of the agreements described in sub-subdivisions a. and b. of this subdivision, together with all supplements.\nd.\tOne or more transactions entered into pursuant to a master agreement. (2003-388, s. 4; 2005-403, s. 4.)","path":["Chapter 159. Local Government Finance.","SUBCHAPTER IV. LONG-TERM FINANCING.","Article 13. Interest Rate Swap Agreements for Governmental Units."],"source_url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_159/GS_159-193.html","current_through":"S.L. 2026-30","vintage":"","retrieved_at":"2026-08-27T18:24:52Z","sha256":"1ad77ad695a47ef2e3e0b2e95bfecec487db1b310c69046d51e381cc0ec9ae61","source_id":"us-nc","stale":false,"prev":"us-nc/n.c.-gen.-stat.-159-189-through-159-192","next":"us-nc/n.c.-gen.-stat.-159-194"},"notice":"GroundRules: Original legal text. Not legal advice."}