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