NORTH CAROLINA GENERAL ASSEMBLY

1961 SESSION

 

 

CHAPTER 1155

SENATE BILL 472

 

 

AN ACT TO AMEND SUBSECTION 16(c) OF SECTION 130‑128 OF THE GENERAL STATUTES RELATING TO APPLICATION OF CAPITAL RESERVE FUNDS OF SANITARY DISTRICTS.

 

The General Assembly of North Carolina do enact:

 

Section 1.  That subsection 16(c) of Section 130‑128 of the General Statutes is hereby amended by changing the period at the end of said subsection to a comma and adding thereafter the following:

"except that, when the amount of authorized and unissued bonds of the district is determined by the sanitary district board to be insufficient for financing the cost of the improvements or properties for which such bonds were authorized, all or any part of such remaining amount may be withdrawn for the purpose of meeting such insufficiency."

Sec. 2.  That all laws and clauses of laws in conflict with this Act are hereby repealed.

Sec. 3.  That 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 22nd day of June, 1961.