NORTH CAROLINA GENERAL ASSEMBLY

1971 SESSION

 

 

CHAPTER 994

HOUSE BILL 1469

 

AN ACT TO AMEND CHAPTER 296 OF THE 1965 SESSION LAWS, THE TOWN CHARTER OF THE TOWN OF PINEVILLE RELATING TO PUBLIC SERVICES AND ISSUANCE AND SALE OF BONDS ON SECURITY OF EXCESS PROPERTY AND PUBLIC UTILITIES.

 

The General Assembly of North Carolina do enact:

 

Section 1. Section 1 of Chapter 296 of the 1965 Session Laws is hereby amended by rewriting subdivisions (2) and (4) thereof to read as follows:

"(2)      To furnish all local public services; to purchase, hire, construct, own, maintain and operate or lease all public utilities including but not limited to water, sewer, electricity, telephone, gas, motor buses, both inside and outside the corporate limits, to acquire, by condemnation or otherwise, within or without the corporate limits, property necessary for any such purposes, subject to restrictions imposed by general law for the protection of other communities; and to grant local public utility franchises and regulate the exercise thereof."

"(4)      To issue and sell bonds on the security of any such excess property or of any public utility including water, sewer, gas, electricity or telephone systems owned by the town whether inside or outside the corporate limits of the town, or of the revenues of any public utility including water, sewer, gas, electricity or telephone systems and to expend funds for improvement, or extension of any public utility including water, sewer, gas, electricity, or telephone systems whether inside or outside the corporate limits and in the case of revenue bonds issue the same with or without a vote of the people, and in the case of general obligation bonds issue the same subject to and with approval of a vote of the people, including the case of a public utility that is water, sewer, gas, electricity or telephone systems, if deemed desirable by the town, a franchise stating the terms upon which, in case of foreclosure, the purchaser may operate such utility."

Sec. 2. This act shall become effective upon ratification.

In the General Assembly read three times and ratified, this the 20th day of July, 1971.