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IN RE DENIAL OF APPROVAL TO ISSUE $30,000,000.00

No. 196PA82.

296 S.E.2d 281 (1982)

In re The DENIAL OF APPROVAL TO ISSUE $30,000,000.00 OF SINGLE FAMILY HOUSING BONDS AND $30,000,000.00 OF MULTI-FAMILY HOUSING BONDS FOR PERSONS OF MODERATE INCOME.

Supreme Court of North Carolina.

November 3, 1982.

Attorney(s) appearing for the Case

Powe, Porter & Alphin, P.A. by W. Travis Porter, James L. Stuart, and Eugene F. Dauchert, Jr., Durham, for plaintiff North Carolina Housing Finance Agency.

Rufus L. Edmisten, Atty. Gen. by Douglas A. Johnston, Asst. Atty. Gen., Raleigh, for defendant Local Government Commission.

CARLTON, Justice.

In 1969 the General Assembly enacted the North Carolina Housing Finance Agency Act, G.S. 122A-1 to 122A-23 (1981 & Cum.Supp.1981), declaring "that the purposes of [the Act] are to provide financing for residential housing construction, new or rehabilitated, for sale or rental to persons and families of lower income." G.S. 122A-2 (1981) (emphasis added). This Court, determining that it was enacted for a public purpose, upheld the Act's...

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