GENERAL ASSEMBLY OF NORTH CAROLINA
1987 SESSION
CHAPTER 986
The General Assembly of North Carolina enacts:
Section 1. Section 2(1) of Chapter 536, Session Laws of 1985, reads as rewritten:
"(1) 'Capital costs' means costs spent for developing community service facilities; such costs are limited to Capital Outlay items listed in the 'Uniform Local Government Accounting Systems' procedural manual prepared by the North Carolina Local Government Commission. Capital costs include payment of the principal and interest on any debt or other financial obligation incurred by the town with respect to a purpose authorized by subdivision (2) of this section."
Sec. 2. This act is effective upon ratification.
In the General Assembly read three times and ratified this the 27th day of June, 1988.