GENERAL ASSEMBLY OF NORTH CAROLINA

1985 SESSION

 

 

CHAPTER 136

SENATE BILL 204

 

AN ACT TO CHANGE THE MAXIMUM ALLOWABLE INTEREST RATES ON BONDS AND NOTES OF DRAINAGE DISTRICTS.

 

The General Assembly of North Carolina enacts:

 

Section 1.  G.S. 156-97(3) is amended by deleting the language "eight percent (8%)" and substituting "fourteen percent (14%)".

Sec. 2.  The second sentence of G.S. 156-97(6) is amended by deleting the language "eight percent (8%)" and substituting "fourteen percent (14%)".

Sec. 3.  The second sentence of G.S. 156-97.1 is amended by deleting the langauage "six percent (6%)" and substituting "fourteen percent (14%)".

Sec. 4.  This act is effective upon ratification.

In the General Assembly read three times and ratified, this the 29th day of April, 1985.