North Carolina General Statutes > Chapter 159 > Article 10 – Assistance for Defaulting Units in Refinancing Debt
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| § 159-176 | Commission to aid defaulting units in developing refinancing plans |
| § 159-177 | Power to require reports and approve budgets |
| § 159-178 | Duration of Commission’s powers |
Terms Used In North Carolina General Statutes > Chapter 159 > Article 10 - Assistance for Defaulting Units in Refinancing Debt
- Commission: means the Local Government Commission. See North Carolina General Statutes 159-1
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Secretary: means the secretary of the Local Government Commission. See North Carolina General Statutes 159-1