{"data":{"id":"us-nc/n.c.-gen.-stat.-159c-5","jurisdiction":"us-nc","citation":"N.C. Gen. Stat. § 159C-5","heading":"General powers.","body":"Each authority shall have all of the powers necessary or convenient to carry out and effectuate the purposes and provisions of this Chapter, including, but without limiting the generality of the foregoing, the powers:\n(1)\tTo adopt bylaws for the regulation of its affairs and the conduct of its business and to prescribe rules, regulations and policies in connection with the performance of its functions and duties;\n(2)\tTo adopt an official seal and alter the same at pleasure;\n(3)\tTo maintain an office at such place or places within the boundaries of the county for which it was created as it may determine;\n(4)\tTo sue and be sued in its own name, plead and be impleaded;\n(5)\tTo receive, administer and comply with the conditions and requirements respecting any gift, grant or donation of any property or money;\n(6)\tTo make and execute financing agreements, security documents and other contracts and instruments necessary or convenient in the exercise of the powers and functions of the authority under this Chapter;\n(7)\tTo acquire by purchase, lease, gift or otherwise, but not by eminent domain, or to obtain options for the acquisition of, any property, real or personal, improved or unimproved, and interests in land less than the fee interest, for the construction, operation or maintenance of any project;\n(7a)\tRepealed by Session Laws 2001-487, s. 94.\n(8)\tTo sell, lease, exchange, transfer or otherwise dispose of, or to grant options for any such purposes with respect to, any real or personal property or interest therein;\n(9)\tTo pledge or assign revenues of the authority;\n(10)\tTo construct, acquire, own, repair, maintain, extend, improve, rehabilitate, renovate, furnish and equip one or more projects and to pay all or any part of the costs thereof from the proceeds of bonds of the authority or from any contribution, gift or donation or other funds made available to the authority for such purpose;\n(11)\tTo fix, charge and collect revenues with respect to any project;\n(12)\tTo employ consulting engineers, architects, attorneys, real estate counselors, appraisers and such other consultants and employees as may be required in the judgment of the authority and to fix and pay their compensation from funds available to the authority therefor and to select and retain subject to approval of the Local Government Commission the financial consultants, underwriters and bond attorneys to be associated with the issuance of any bonds and to pay for services rendered by underwriters, financial consultants or bond attorneys out of the proceeds of any such issue with regard to which the services were performed; and\n(13)\tTo do all acts and things necessary, convenient or desirable to carry out the purposes, and to exercise the powers herein granted. (1975, c. 800, s. 1; 1979, c. 109, s. 1; 1985, c. 723, s. 3; 2000-179, s. 4; 2001-487, s. 94.)","path":["Chapter 159C. Industrial and Pollution Control Facilities Financing Act."],"source_url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_159C/GS_159C-5.html","current_through":"S.L. 2026-30","vintage":"","retrieved_at":"2026-08-27T18:25:07Z","sha256":"8102e2c621efde0629fd5b3636d94c02e3c76d73b37a88926df210c0df312f47","source_id":"us-nc","stale":false,"prev":"us-nc/n.c.-gen.-stat.-159c-4","next":"us-nc/n.c.-gen.-stat.-159c-6"},"notice":"GroundRules: Original legal text. Not legal advice."}