NORTH CAROLINA GENERAL ASSEMBLY

1981 SESSION

CHAPTER 82

HOUSE BILL 210

AN ACT TO ALTER THE DISTRIBUTION OF PROFITS OF THE PITTSBORO ABC BOARD.  

The General Assembly of North Carolina enacts:

Section 1.  Chapter 365 of the 1967 Session Laws, as amended by Chapter 1162 of the 1979 Session Laws (2nd Session 1980), is amended by rewriting Section 9 of that Chapter to read:

"Section 9. The Town of Pittsboro Board of Alcoholic Beverage Control shall, out of the gross revenue derived from the operation of Alcoholic Beverage Control Stores, pay all salaries, costs and operating expenses and retain a sufficient and proper working capital, the amount thereof to be determined by the Town Board of Alcoholic Beverage Control. The remaining revenue, as determined by annual audit, shall be distributed quarterly by the Town of Pittsboro Board of Alcoholic Beverage Control as follows:

(1)       Five percent (5%) to the general fund of the town of Pittsboro to be used for law enforcement purposes.

(2)       Eighty percent (80%) to the general fund of the town of Pittsboro to be expended as follows:

(a)       Ten percent (10%) for debt retirement of the town. During any period when the town has no debts, then this ten percent (10%) may be used for any and all purposes for which tax and nontax revenues may be expended by the town;

(b)       Ten percent (10%) for library, recreational or other similar purposes carried on by the town;

(c)       The remaining revenues shall be used for any and all purposes for which tax and nontax revenues may be expended by the town.

(3)       Ten percent (10%) to the general fund of Chatham County to be used for education or any other public purpose for which tax and nontax revenues may be expended by the county.

(4)       Five percent (5%) to the general fund of Chatham County to be used for law enforcement purposes in the county."

Sec. 2. This act shall become effective July 1, 1981.

In the General Assembly read three times and ratified, this the 12th day of March, 1981.