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The Authoritv may make recommerdittions to the General Assembly concerninL9 6 <br /> additional revenue sources, including, but not limited to: <br /> H Annual vehicle registration fees• <br /> Ad valorem taxes: <br /> 3 Local land transfer taxes-, <br /> 4 Drivers license fees: <br /> 5 Sales taxes on automobile parts and accessories, and <br /> 6 Motor fuels taxes. <br /> Anv additional revenue sources for an Authority must be Oproved by the General <br /> Assemblv." <br /> Sec. 5. G.S. 160A-617 is rewritten to read: <br /> "§ 160A-617. Bonds and notes authorized. <br /> In addition &f to the powers granted by this Article, the authority may issue bonds <br /> and notes pursuant to the provisions of the Local Government Bond Act and the <br /> Local Government Revenue Bond Act for the purpose of financing public <br /> transportation systems or any part thereof and to refund such bonds and notes, <br /> whether or not in advance of their maturity or earliest redemption date. Any bond <br /> order must be approved by resolution adopted by the special tax board of the <br /> Authority and in the case of a bond order under the Local Government Bond Act <br /> also_bv the board of county commissioners_of each county organizing the authority. <br /> To pay any bond or note issued under the Local Government Bond Act, the <br /> Authority may not pledge the levy of any ad valorem tax, but only a tax or taxes it is <br /> authorized to levy." <br /> Sec. 6. G.S. 159-51 as amended by Chapter 325, Session Laws of 1991, <br /> reads as rewritten: <br /> "§ 159-51. Application to Commission for approval of bond issue; preliminary <br /> conference; acceptance of application. <br /> No bonds may be issued under this Article unless the issue is approved by the <br /> Local Government Commission. The governing board of the issuing unit shall file an <br /> application for Commission approval of the issue with the secretary of the <br /> Commission. If the issuing unit is a regional public transportation authority, the <br /> application must be accompanied by Et Feselatieff resolutions of the special tax board <br /> of that authority and of each of the boards of county commissioners of the counties <br /> organizing the he authority approving of the application. The application shall state such <br /> facts and have attached to it such documents concerning the proposed bonds and the <br /> financial condition of the issuing unit as the secretary may require. The Commission <br /> may prescribe the form of the application. <br /> Before he accepts the application, the secretary may require the governing board <br /> or its representatives to attend a preliminary conference to consider the proposed <br /> bond issue. If the issuing unit is a merged school administrative unit described in G.S. <br /> 115C-513, each county in which the merged unit is located may attend the <br /> preliminary conference. <br /> After an application in proper form has been filed, and after a preliminary <br /> conference if one is required, the secretary shall notify the unit in writing that the <br /> application has been filed and accepted for submission to the Commission. The <br /> secretary's statement shall be conclusive evidence that the unit has complied with this <br /> section." <br /> House Bill 80 3 <br />