2005 North Carolina Code - General Statutes § 159D-67. Creation and purposes of Life Sciences Revenue Bond Authority.

§ 159D‑67.  Creation and purposes of Life Sciences Revenue Bond Authority.

(a)       Creation. – The Life Sciences Revenue Bond Authority is created within the Department of State Treasurer for organizational and budgetary purposes only. The Authority shall be governed by a Board of Directors. The Board of Directors is authorized to administer the Authority independently in accordance with the requirements of this Article.

(b)       Purposes. – The Authority has the following purposes:

(1)       To examine alternatives for enhancing North Carolina's construction financing infrastructure for life sciences manufacturing facilities by credit enhancement vehicles such as revenue bonds.

(2)       To establish proposed guidelines for the deployment, oversight, promotion, monitoring, and management of these credit enhancement vehicles.

(3)       To identify prospective life sciences enterprises that might benefit from the establishment of credit enhancement vehicles.

(4)       To advise and make recommendations to the General Assembly regarding further legislation to achieve the goals of the Authority.

(5)       To serve as the central life sciences revenue bond policy planning body in the State through collaboration and coordination with State, regional, local agencies, The University of North Carolina System, the North Carolina Biotechnology Center, the State Treasurer, and private entities in order to develop and foster a life sciences credit enhancement infrastructure for the benefit of the citizens of North Carolina. (2003‑435, 2nd Ex. Sess., s. 7.1.)