NORTH CAROLINA GENERAL ASSEMBLY

1959 SESSION

CHAPTER 719

HOUSE BILL 789

AN ACT TO REPEAL CHAPTER 987, SESSION LAWS OF 1949, AS AMENDED BY CHAPTER 888, SESSION LAWS OF 1953 RELATING TO THE FUNDING OF INTEREST ON BONDS OF THE TOWN OF COLUMBUS.

The General Assembly of North Carolina do enact:

Section 1. That Chapter 987, Session Laws of 1949 entitled "An Act Amending Section 160-378 of the General Statutes, being a part of the Municipal Finance Act, 1921, relating to the funding of interest on bonds and applicable only to the Town of Walnut Cove and to the Town of Columbus", as amended by Chapter 888, Session Laws of 1953, be and the same is hereby repealed.

Sec. 2. That the last sentence of purpose (2) in Section 160-378, 1957 Cumulative Supplement of the General Statutes is hereby rewritten to read as follows: "No interest accruing after the year 1959 shall be funded or refunded."

Sec. 3. That the provisions of this Act shall apply only to the Town of Columbus.

Sec. 4. That all laws and clauses of laws in conflict with the provisions of this Act are hereby repealed to the extent of such conflict.

Sec. 5. That this Act shall be in force and effect from and after its ratification.

In the General Assembly read three times and ratified, this the 3rd day of June, 1959.