GENERAL ASSEMBLY OF NORTH CAROLINA
SESSION 2005
SESSION LAW 2005-72
SENATE BILL 867
AN ACT to increase the period of time over which an interlocal agreement regarding an industrial or commercial park may remain in effect.
The General Assembly of North Carolina enacts:
SECTION 1. G.S. 158-7.4(b) reads as rewritten:
"(b) Any undertaking
entered into pursuant to this section may be for that period that is agreed to
by the participating local governments, up to a maximum of 40 99 years."
SECTION 2. This act is effective when it becomes law.
In the General Assembly read three times and ratified this the 26th day of May, 2005.
s/ Beverly E. Perdue
President of the Senate
s/ James B. Black
Speaker of the House of Representatives
s/ Michael F. Easley
Governor
Approved 9:45 a.m. this 2nd day of June, 2005