NORTH CAROLINA GENERAL ASSEMBLY

1969 SESSION

CHAPTER 1198

SENATE BILL 853

AN ACT AMENDING CHAPTER 1051 OF THE SESSION LAWS OF 1967 RELATING TO THE NORTH CAROLINA STADIUM AUTHORITY SO AS TO PERMIT NOTES ISSUED BY THE AUTHORITY TO BEAR THE LEGAL RATE OF INTEREST.

The General Assembly of North Carolina do enact:

Section 1.  Chapter 1051 of the Session Laws of 1967 is amended as follows:

(a)        by striking from Section 10, line 9 thereof, the words and figure "not exceeding six per centum (6%) per annum" and inserting in lieu thereof the words "as the Authority may set,"

(b)        by striking from the last paragraph of Section 10, on lines 4 and 5 thereof, the words and figure "six per centum (6%) per annum" and inserting in lieu thereof the words "such rate of interest as the Authority may set".

Sec. 2.  All laws and clauses of laws in conflict with this Act are hereby repealed.

Sec. 3.  This Act shall become effective upon its ratification.

In the General Assembly read three times and ratified, this the 1st day of July, 1969.