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General Assembly of North Carolina Session 2009 1 tailwater fishing access areas, two new reservoir fishing_piers, and 10 new 2 campsites. 3 ~ Allow the City of Albemarle to increase water withdrawals from the Yadkin 4 River up to 30 million alg lops per dam 5 10 Utilize a portion of the proceeds from power generation to fund a Yadkin 6 River Basin Clean Water Trust Fund to be created in order to acquire land 7 for water qualit~provements, implement innovative storm water 8 strategies, state-of--the art waste water improvements, and aquatic habitat 9 improvements, and to provide funding mechanisms to assist local 10 governments to make water quality improvements throughout the Yadkin 11 River Basin. 12 11 Apportion a percentage of electricity from the Yadkin Proiect output for use 13 by a regional economic development entity to be designated by the 14 Department of Commerce. To the extent that there are renewable energy 15 credits attributable to the output, the credits shall belong to the desi ng ated 16 enti 17 12 Use proceeds from power generation to: (i) acquire and donate land to the 18 Town of Badin for a new public park; (ii acquire and donate land to Rowan 19 County for the continued protection and public access to the Eagle Point 20 Nature Preserve; (iii) acquire other land for conservation purposes; and (iv) 21 make a forty thousand dollars ($40,0001 donation to the Yadkin-Pee Dee 22 River Trail Fund. 23 "& 77-125. Bonds and notes. 24 ~a,~ The Trust mawprovide for the issuance, at one time or from time to time, of bonds 25 and notes including bond anticipation notes and renewal notes, of the Trust to carry out its 26 corporate purposes including financing the costs of projects. The principal of and interest on 27 the bonds or notes shall be payable from funds provided under this Article for their payment. A 28 bond anticipation note may be made payable from the proceeds of bonds or renewal notes or, in 29 the event bond or renewal note proceeds are not available, from any available Trust revenues or 30 other funds provided for this~urpose Bonds and notes may also be paid from the proceeds of 31 any credit facility. 32 All bonds notes or refunding bonds or notes of the Trust are subject to this section and 33 G.S. 77-126. 34 The bonds and notes of each issue shall be dated and may be made redeemable prior to 35 maturity at the option of the Trust or otherwise, at one or more prices, on one or more dates, 36 and upon the terms and conditions set by the Trust. The bonds or notes may also be made 37 payable from time to time on demand or tender for purchase by the owner upon terms and 38 conditions set by the Trust. 39 A bond or note shall bear interest at a rate or rates, including variable rates, as determined 40 by the Local Government Commission with the approval of the Trust. A bond or note may be 41 secured by a reserve fund created for that purpose and funded from proceeds of the bond or 42 note revenues or any other source of funds available to the Trust. 43 ~b,~ In fixing the details of bonds or notes, the Trust may provide that the bonds or notes 44 may 45 ~ Be payable from time to time on demand or tender for purchase by the 46 owner of the bond or note if a credit facility supports the bond or note, 47 unless the Local Government Commission specifically determines that a 48 credit facility is not required because the absence of a credit facility will not 49 materially and adversely affect the financial position of the Trust and the 50 marketing of the bonds or notes at a reasonable interest cost to the Trust. 51 ~2,~ Be additionally supported by a credit facility. ' S967 [Filed] F-2 Attachment number 3 Page ~5 of 320