NORTH CAROLINA GENERAL ASSEMBLY

1963 SESSION

 

 

CHAPTER 319

HOUSE BILL 451

 

 

AN ACT TO VALIDATE PAST AD VALOREM TAX LEVIES OF THE TOWN OF SPRUCE PINE AND AMEND G. S. 160-402, AS IT APPLIES TO THE TOWN Of SPRUCE PINE, SO AS TO INCREASE THE LIMITATION ON THE LEVY OF TAXES FOR GENERAL PURPOSES TO TWO DOLLARS PER ONE HUNDRED DOLLARS VALUATION.

 

The General Assembly of North Carolina do enact:

 

Section 1. G. S. 160-402 is hereby amended by adding at the end thereof the following sentence: "Provided that the Town of Spruce Pine may levy and collect an annual ad valorem tax on all taxable property in the municipality at a rate not exceeding two dollars ($2.00) on the one hundred dollar ($100.00) valuation of said property for the purpose of raising revenue for defraying the expenses incident to the proper government of the municipality."

Sec. 2. Any and all ad valorem taxes heretofore levied by the Town of Spruce Pine for the purpose of raising revenue for defraying the expenses incident to the proper government of the town are hereby approved, legalized, and validated for any and all purposes whatsoever.

Sec. 3. The increases in permissible rates of tax authorized by this Act shall be effective at the beginning of the fiscal year commencing July 1, 1963.

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 All laws and clauses of laws in conflict with this Act are hereby repealed.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 1st day of May, 1963.