North Carolina § 160D-1012 Applicability of procedures to approve debt

North Carolina Statutes

§ 160D-1012 — Applicability of procedures to approve debt

North Carolina § 160D-1012

Ch. 160DLocal Planning and Development Regulation

Art. 10Development Agreements

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Bluebook

N.C. Gen. Stat. § 160D-1012 (2026).

Text

In the event that any of the obligations of the local government in the development agreement constitute debt, the local government shall comply, at the time of the obligation to incur the debt and before the debt becomes enforceable against the local government, with any applicable constitutional and statutory procedures for the approval of this debt. (2019-111, s. 2.4; 2020-3, s. 4.33(a); 2020-25, s. 51(a), (b), (d).)

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In the event that any of the obligations of the local government in the development agreement constitute debt, the local government shall comply, at the time of the obligation to incur the debt and before the debt becomes enforceable against the local government, with any applicable constitutional and statutory procedures for the approval of this debt. (2019-111, s. 2.4; 2020-3, s. 4.33(a); 2020-25, s. 51(a), (b), (d).)