NORTH CAROLINA GENERAL ASSEMBLY

1969 SESSION

CHAPTER 1158

HOUSE BILL 877

AN ACT TO AMEND CHAPTER 116 OF THE GENERAL STATUTES OF NORTH CAROLINA TO INCREASE THE LIMIT OF INTEREST RATE PAYABLE FOR BONDS FOR SELF-LIQUIDATING PROJECTS.

The General Assembly of North Carolina do enact:

Section 1.  G.S. 116-176 is hereby amended by striking out the words "five per centum (5%)" in line six (6) of the first paragraph following the words "at such rate or rates not exceeding" and substituting therefor the words "eight per centum (8%)"; and by striking out the words "five per centum (5%)" in line twenty-eight (28) of the first paragraph following the words "received therefor at more than" and substituting the words "eight per centum (8%)".

Sec. 2.  G.S. 116-191 is hereby amended by striking out the words "five per centum (5%) in line seven (7) of the first paragraph following the words "at such rate or rates not exceeding" and substituting the words "eight per centum (8%)"; and by striking out the words "five per centum (5%)" in line thirty-two (32) of the first paragraph following the words "received therefor at more than" and substituting the words "eight per centum (8%)".

Sec. 3.  All laws and clauses of laws in conflict with this Act are hereby repealed.

Sec. 4.  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 30th day of June, 1969.