NORTH CAROLINA GENERAL ASSEMBLY

1973 SESSION

 

 

CHAPTER 883

HOUSE BILL 1659

 

 

AN ACT TO AMEND THE LOCAL GOVERNMENT BOND ACT WITH RESPECT TO THE MATURITY SCHEDULE OF BONDS BY CORRECTING A TRANSCRIPTION ERROR.

 

The General Assembly of North Carolina enacts:

 

Section 1.  G.S. 159-65(4), as enacted by Chapter 780 of the Session Laws of 1971, as amended by Chapter 494 of the Session Laws of 1973, and as the same appears in the 1973 Cumulative Supplement to Volume 3D of the General Statutes, is amended by inserting the word "prior" between the words "smallest" and "installment," so that G.S. 159-65(4) reads as follows:

"(4)      No installment of any issue may be more than four times as great in amount as the smallest prior installment of the same issue."

Sec. 2.  This act shall become effective upon ratification.

In the General Assembly read three times and ratified, this the 22nd day of February, 1974.