North Carolina § 159-45 - All general obligation bonds subject to Local Government Bond Act.
Full text of North Carolina North Carolina General Statutes § 159-45 — All general obligation bonds subject to Local Government Bond Act., with citation guidance and answers to common questions.
§ 159-45. All general obligation bonds subject to Local Government Bond Act.
No unit of local government in this State shall have authority to enter into any contract or agreement, whether oral or written, whereby it borrows money and makes an express or implied pledge of its power to levy taxes as security for repayment of the loan, except by the issuance of its bonds in accordance with the limitations and procedures prescribed in this Article or by the issuance of its negotiable notes in accordance with the limitations and procedures prescribed in Article 9 of this Chapter or by the issuance of debt instruments in accordance with the limitations and procedures prescribed in Chapter 159G of the General Statutes. History (1971, c. 780, s. 1; 1987, c. 796, s. 2(1).)
Source: official North Carolina text · Last verified 2026-08-27
Frequently Asked Questions About North Carolina § 159-45
What does North Carolina General Statutes § 159-45 cover?
Section 159-45 ("All general obligation bonds subject to Local Government Bond Act.") 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 § 159-45?
A common citation format is "North Carolina General Statutes § 159-45" (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 § 159-45 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.