The faith and credit and taxing power of the State are hereby pledged for the payment of the principal of and the interest on bonds and notes. The State retains the right to amend any provision of this Article to the extent it does not impair any contractual right of a bond owner.
N.C. Gen. Stat. § 116D-10
Faith and credit
Known as the University Improvement General Obligation Bonds Finance Act
The act spans §§ 116–116 (8 sections).
2000-3, s. 1.2.
Official source: North Carolina General Assembly. Reproduced from public-domain North Carolina statutes; confirm against the official source for the current text. Not legal advice.