GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 2007

SESSION LAW 2008-38

HOUSE BILL 1679

AN ACT allowing joint municipal assistance agencies to make and execute contracts for periods greater than three years to achieve economy, adequacy, and reliability.

The General Assembly of North Carolina enacts:

SECTION 1.  G.S. 159B-44(13) reads as rewritten:

"(13)   To make and execute contracts for a period not exceeding three yearsand other instruments necessary or convenient in the exercise of the powers and functions of the joint municipal assistance agency, including contracts with municipalities, joint agencies, persons, firms, corporations and others, provided, however, that such contracts shall not unreasonably preclude the municipality or joint agency from contracting with other parties in order to achieve economy, adequacy and reliability in the operation of their electric systems;".

SECTION 2.  This act is effective when it becomes law.

In the General Assembly read three times and ratified this the 26^th day of June, 2008.

                                                                    s/ Beverly E. Perdue

                                                                         President of the Senate

                                                                    s/ Joe Hackney

                                                                         Speaker of the House of Representatives

                                                                    s/ Michael F. Easley

                                                                         Governor

Approved 12:05 p.m. this 1^st day of July, 2008