North Carolina § 159-18 - Capital reserve funds.
Full text of North Carolina North Carolina General Statutes § 159-18 — Capital reserve funds., with citation guidance and answers to common questions.
§ 159-18. Capital reserve funds.
Any local government or public authority may establish and maintain a capital reserve fund for any purposes for which it may issue bonds. A capital reserve fund shall be established by resolution or ordinance of the governing board which shall state (i) the purposes for which the fund is created, (ii) the approximate periods of time during which the moneys are to be accumulated for each purpose, (iii) the approximate amounts to be accumulated for each purpose, and (iv) the sources from which moneys for each purpose will be derived. History (1943, c. 593, ss. 3, 5; 1957, c. 863, s. 1; 1967, c. 1189; 1971, c. 780, s. 1.) Local Modification. - Guilford: 2007-255, s. 2; Mecklenburg: 2007-255, s. 2; Wake: 2007-255, s. 2; city of Greensboro: 2007-255, s. 2; city of Raleigh: 2007-255, s. 2. Legal Periodicals. - For comment on former Article 10A of Chapter 153 , corresponding to this Part, see 21 N.C.L. Rev. 357 (1943). For symposium on municipal finance, see 1976 Duke L.J. 1051 (1976).
Source: official North Carolina text · Last verified 2026-08-27
Frequently Asked Questions About North Carolina § 159-18
What does North Carolina General Statutes § 159-18 cover?
Section 159-18 ("Capital reserve funds.") is part of the North Carolina General Statutes, the codified statutory law of North Carolina. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite North Carolina § 159-18?
A common citation format is "North Carolina General Statutes § 159-18" (North Carolina). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of North Carolina law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the North Carolina official source linked on this page or consult a licensed North Carolina attorney.
How does North Carolina § 159-18 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in North Carolina can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in North Carolina.