NORTH CAROLINA GENERAL ASSEMBLY
1959 SESSION

CHAPTER 381
HOUSE BILL 473

AN ACT TO ALLOW A DISCOUNT FOR PREPAYMENT OF AD VALOREM TAXES IN THE TOWN OF GIBSONVILLE.

The General Assembly of North Carolina do enact:

Section 1. Hereafter the governing body of the Town of Gibsonville shall determine by resolution whether or not discounts for prepayments of ad valorem taxes shall be established and permitted in the Town of Gibsonville, and if so, during what periods and at what rates. Said resolution shall make provision only for the next fiscal year. The rate of discount shall not exceed two per cent (2%) of the taxes discounted.
Sec. 2. The said resolution to be effective must be adopted by a majority of the members of the governing body of the Town of Gibsonville at a meeting duly called and at which a quorum is present. The meeting provided for in this Section must be held not later than the 10th day of June of each year.
Sec. 3. There shall be no discounts allowed for the prepayment of ad valorem taxes due to the Town of Gibsonville unless authorized by resolution or resolutions herein provided for.
Sec. 4. All laws and clauses of laws in conflict with this Act are hereby repealed.
Sec. 5. This Act shall be in full force and effect from and after its ratification.
In the General Assembly read three times and ratified, this the 28th day of April, 1959.