NORTH CAROLINA GENERAL ASSEMBLY

1971 SESSION

CHAPTER 37

HOUSE BILL 28

AN ACT RELATING TO INVESTMENTS HERETOFORE MADE BY THE TOWN OF STANTONSBURG.

Whereas, the Town Commissioners for the Town of Stantonsburg have heretofore invested non-tax revenue in the stock of Stantonsburg Industrial Development Corporation, which is a corporation organized for the purpose of purchasing land with which to assist in the location of industry in the Town of Stantonsburg; and

Whereas, the said Corporation has heretofore purchased land and an industry is presently located on a portion of said land;

The General Assembly of North Carolina do enact:

Section 1.  The action of the Board of Commissioners of the Town of Stantonsburg in purchasing stock in the Stantonsburg Industrial Development Corporation is hereby authorized and in all respects ratified and confirmed, and is an authorized investment.

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

In the General Assembly read three times and ratified, this the 3rd day of March, 1971.