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INDUSTRIAL FACILITIES AND POLLUTION CONTROL FINANCING AUTHORITY
<br />
<br />Established by the Board of County Commissioners under N. C. State law, the
<br />Industrial Facilities and Pollution Control Financing Authority aids (1) in the
<br />financing of industrial and manufacturing facllttiea to alleviate unemployment
<br />and raise wages and (2) in the financing of pollution control facilities through
<br />industrial revenue bonds.
<br />
<br />§ 159C-5. General powers.
<br />
<br /> Each authority shall have all of the powers necessary or conve-
<br />nient to carry out and effectuate the purposes and provisions of this
<br />Chapter, including, but without limiting :he generality of the fore-
<br />going, the powers:
<br /> (1) To adopt bylaws for the regul.',tion of its affairs and the
<br /> conduct of its business and to prescribe rules, regulations
<br /> and policies in connection with the performance of its func-
<br /> tions and duties;
<br /> (2) To adopt an official seal and alter the same at pleasure;
<br /> (3) To maintain an office at such place or places within the
<br /> boundaries of the county for which it was created as it may
<br /> determine;
<br /> (4) To sue and be sued in its own name, plead and be im-
<br /> pleaded;
<br /> (5) To receive, administer and comply with the conditions and
<br /> requirements respecting any gift, grant or donation of any
<br /> property or money;
<br /> (6) To make and execute financing agreements, security docu-
<br /> ments and other contracts and instruments necessary or
<br /> convenient in the exercise of the powers and functions of
<br /> the authority under this Chapter;
<br /> (7) To acquire by purchase, lease, gift or otherwise, but not by
<br /> eminent domain, or to obtain options for the acquisition of,
<br /> any property, real or personal, improved or unimproved.
<br /> and interests in land less than the fee thereof, for the eon-
<br /> struction, operation or maintenance of any project;
<br /> (8) To sell, lease, exchange, transfer or otherwise dispose of, or
<br /> to grant options for any such purposes with respect to, any
<br /> real or personal property or interest therein;
<br /> (9) To pledge or assign revenues of the authority;
<br /> (10) To construct, acquire, own, repair, maintain, extend, im-
<br /> prove, rehabilitate, renovate, furnish and equip one or
<br /> more projects and to pay all or any part of the costs thereof
<br /> from the proceeds of bonds of the authority or from any
<br /> contribution, gift or donation or other funds made avail-
<br /> able to the authority for such purpose;
<br /> (11) To fix, charge and collect revenues with respect to any
<br /> project;
<br /> (12) To employ consulting engineers, architects, attorneys.
<br /> real estate counselors, appraisers and such other consul-
<br /> rants and employees as may be required in thejudgment of
<br /> the authority and to fix and pay their compensation from
<br /> funds available to the authority therefor and to select and
<br /> retain subject to approval of the Local Government Com-
<br /> mission the financial consultants, underwriters and bond
<br /> attorneys to be associated with the issuance of any bonds
<br /> and to pay for services rendered by underwriters, fimmcial
<br /> consultants or bond attorneys out of the proceeds of any
<br /> such issue with regard to which the services were per-
<br /> formed; and
<br /> (13) To do all acts and things necessary, convenient or desir-
<br /> able to carry out the purposes, and to exercise the powers
<br /> herein granted. (1975, c. 800, s. 1; 1979, c. 109, s. 1; 1985, c.
<br /> 723, s. 33 (~
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