NORTH CAROLINA GENERAL ASSEMBLY

1971 SESSION

 

 

CHAPTER 903

HOUSE BILL 1421

 

AN ACT TO AMEND CHAPTER 713 OF THE SESSION LAWS OF 1965, BEING THE CHARTER OF THE CITY OF CHARLOTTE IN MECKLENBURG COUNTY.

 

The General Assembly of North Carolina do enact:

 

Section 1. Section 1 of Chapter 713, Session Laws of the General Assembly of North Carolina of 1965, being the Charter of the City of Charlotte is hereby amended as follows: Amend Chapter IV, Subchapter C, Section 4.42 by adding the following to the end of said section.

"The City Council is hereby further authorized and may, in its discretion, appropriate funds to provide group insurance benefits for retired employees. Premiums for group insurance benefits for retired employees may be paid by the City of Charlotte, by the City and the retired employees jointly, or by the retired employees".

Sec. 2. Amend Chapter 132 of the Session Laws of 1969, and Chapter 575 of the Session Laws of 1965, relating to the authority of the Charlotte Fireman's Retirement System to invest in stock as follows:

(a)       Section 4.1(8), Chapter 132, Session Laws of the General Assembly of North Carolina of 1969, is hereby amended by deleting the words and figures "thirty per centum (30%)" as they appear in the second line and substituting in lieu thereof the words and figures "forty-five per centum (45%).

(b)       Section 4.1(8)(a), Chapter 575, Session Laws of the General Assembly of North Carolina of 1965, is hereby amended by deleting the words and figures "one and one-half per centum (1-1/2%)" as they appear in the first line and substituting in lieu thereof the words and figures "thirty per centum (30%)."

Sec. 3. This act shall apply to the City of Charlotte only.

Sec. 4. All acts and clauses of laws in conflict with this act are hereby repealed.

Sec. 5. This act shall become effective upon its ratification.

In the General Assembly read three times and ratified, this the 16th day of July, 1971.