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NC H412

Bill

Official Source

Status

Passed

6/10/2023

Primary Sponsor

Carson Smith

Click for details

Origin

House of Representatives

2023-2024 Session

AI Summary

  • Modifies Section 2 of S.L. 2019-137 to allow Pender County to grant one or more deeds of trust or similar security instruments on property conveyed by the State for jail and law enforcement center construction.

  • Permits Pender County to use the property as collateral for financing or refinancing construction, acquisition, equipping, improvements, additions, or repairs to the intended facility.

  • Subordinates the State's reversionary interest in the property to any deeds of trust or security instruments granted by Pender County for authorized financing purposes.

  • Directs the Department of Administration to execute subordination agreements and provide any title instruments or documentation required by Pender County to facilitate or obtain financing for the jail facility construction.

  • Effective upon enactment; ratified June 1, 2023 and approved June 9, 2023.

Legislative Description

Modify Property Transfer to Pender County

Correctional Institutions; Counties; County Commissioners; Deeds; Jails; Local Government; Presented; Property; Public; Ratified

Last Action

Ch. SL 2023-35

6/10/2023

Committee Referrals

Rules and Operations of the Senate5/23/2023
State and Local Government5/18/2023
Rules and Operations of the Senate4/26/2023
Rules, Calendar, and Operations of the House4/25/2023
Local Government3/20/2023

Full Bill Text

No bill text available