GENERAL ASSEMBLY OF NORTH CAROLINA
SESSION 2013
SESSION LAW 2013-179
HOUSE BILL 229
AN ACT authorizing the towns of holden beach and Ocean Isle Beach to accumulate funds in a capital reserve fund for the purpose of canal dredging and maintenance for a period of ten years.
The General Assembly of North Carolina enacts:
SECTION 1. Section 6.1 of S.L. 2004-104 reads as rewritten:
"SECTION 6.1.
Capital Reserve Fund. - If a municipality establishes a capital reserve
fund under Chapter 159 of the General Statutes to build up funds for the
purpose of providing the service under this act, it may delay providing the
service until sufficient funds have accumulated, but in no case to exceed five
10 years."
SECTION 2. This act applies only to the Towns of Holden Beach and Ocean Isle Beach.
SECTION 3. This act is effective when it becomes law.
In the General Assembly read three times and ratified this the 24th day of June, 2013.
s/ Daniel J. Forest
President of the Senate
s/ Thom Tillis
Speaker of the House of Representatives