NORTH CAROLINA GENERAL ASSEMBLY

1963 SESSION

 

 

CHAPTER 368

HOUSE BILL 566

 

 

AN ACT PERMITTING THE TOWN OF SPENCER TO EXTEND THE TIME FOR PAYMENT OF SPECIAL ASSESSMENTS.

 

The General Assembly of North Carolina do enact:

 

Section 1. At any time or times prior to March 1, 1965, the governing body of the Town of Spencer may adopt a resolution granting an extension of time for the payment of any installment or installments of any special assessment, including accrued interest thereon and costs accrued in any action to foreclosure under the lien thereon, by arranging such installment or installments, interest and costs, into a new series of 10 equal installments so that one of said installments shall fall due on the first day of October after the expiration of one year after adoption of the aforesaid resolution and one of said installments on the first day of October of each year thereafter. Accrued interest on any installment or installments of any special assessment extended under the provisions of this Section shall be computed to October first following the adoption of said resolution: Provided, however, that such extension shall not prevent the payment of any assessment or interest at any time: Provided, further, no such extension shall in any way discriminate in favor of or against any property assessed by virtue of assessment roll within said town: Provided, further, that any installment or installments, together with accrued interest and costs extended in accordance with the provisions of this Section shall bear interest at the rate of six per cent (6%) per annum from October first following the adoption of the aforesaid resolution.

Sec. 2. This Act shall apply only to the Town of Spencer, North Carolina.

Sec. 3. All laws and clauses of laws in conflict herewith are hereby repealed.

Sec. 4. 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 6th day of May, 1963.