North Carolina General Statutes 157-57. Obligations issued for projects made legal investments; security for public deposits
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Terms Used In North Carolina General Statutes 157-57
- Development: as used in this Article , shall mean any and all undertakings necessary for the planning, land acquisition, demolition, financing, construction or equipment in connection with a project (including the negotiation or award of contracts therefor), and shall include the acquisition of any project (in whole or in part) from the federal government. See North Carolina General Statutes 157-53
- Housing authority: as used in this Article , shall mean any housing authority established or hereafter established pursuant to Article 1 of this Chapter. See North Carolina General Statutes 157-53
- Persons of low income: as used in this Article , shall mean persons or families who lack the amount of income which is necessary (as determined by the housing authority undertaking the housing project) to enable them, without financial assistance, to live in decent, safe and sanitary dwellings, without overcrowding. See North Carolina General Statutes 157-53
Bonds or other obligations issued by a housing authority for a project developed or administered pursuant to this Article shall be security for public deposits and legal investments to the same extent and for the same persons, institutions, associations, corporations, bodies and officers as bonds or other obligations issued pursuant to Article 1 of this Chapter for the development of a slum clearance or housing project for persons of low income. (1941, c. 63, s. 5.)