NORTH CAROLINA GENERAL ASSEMBLY

1975 SESSION

 

 

CHAPTER 474

HOUSE BILL 525

 

AN ACT TO AMEND CHAPTER 519 OF THE SESSION LAWS OF 1959 RELATING TO THE DISPOSITION OF THE NET PROFITS FROM THE ALCOHOLIC BEVERAGE CONTROL STORES IN THE TOWN OF SHALLOTTE.

 

The General Assembly of North Carolina enacts:

 

Section 1. Section 519 of the Session Laws of 1959 is hereby amended by deleting therefrom the last paragraph of Section 6 thereof, including all subsections contained therein, and substituting in lieu thereof the following:

"Out of the net profits derived from the operation of said alcoholic beverage control stores, the Town of Shallotte Board of Alcoholic Control shall, on a quarterly basis, pay over to the following named governing bodies, departments, boards, and agencies amounts equal to the percentages of the net profits which shall be expended by said governing bodies, departments, boards, and agencies for these purposes and none other as follows:

(a)       5% to Union Primary School

(b)       5% to Shallotte Middle School

(c)       10% to West Brunswick High School

(d)       80% to the General Fund of the Town of Shallotte."

Sec. 2. All laws and clauses of laws in conflict with this act are hereby repealed.

Sec. 3. This act shall become effective upon ratification.

In the General Assembly read three times and ratified this the 4th day of June, 1975.