NORTH CAROLINA GENERAL ASSEMBLY

1965 SESSION

 

 

CHAPTER 234

HOUSE BILL 300

 

 

AN ACT TO AMEND CHAPTER 105-213 OF THE GENERAL STATUTES OF NORTH CAROLINA TO DEPOSIT INTANGIBLE TAX ALLOCATIONS IN THE COUNTY GENERAL FUND AND TO PROVIDE FOR THE EXPENDITURE OF SUCH FUNDS APPLICABLE TO POLK COUNTY.

 

The General Assembly of North Carolina do enact:

 

Section 1. Chapter 105, Section 213, of the General Statutes of North Carolina be and is hereby amended to provide that the proportion of the intangible tax allocations to Polk County up to the maximum thereof as determined within the discretion of the Polk County Board of Commissioners be deposited to the General Fund.

Sec. 2. The Polk County Board of Commissioners be and is hereby authorized to expend said funds for assistance in providing public utility services to industrial sites, to provide financial assistance to industrial development, to make expenditures for County capital improvements and for other public purposes.

Sec. 3. Be it further provided that any excess in intangible fund allocations in excess of the proportionate amount determined by the Commissioners for deposit in the General Fund be allocated to the various tax funds as now provided by law.

Sec. 4. All the provisions of Chapter 105 of the General Statutes of North Carolina and other applicable laws pertaining to allocation of intangible tax funds not in conflict with the terms of this Act shall be and remain in full force and effect.

Sec. 5. All laws and clauses of laws in conflict with the terms of this Act are hereby repealed to the extent that they conflict with the terms of this Act.

Sec. 6. 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 13th day of April, 1965.