NORTH CAROLINA GENERAL ASSEMBLY

1969 SESSION

CHAPTER 1277

HOUSE BILL 1428

AN ACT TO PROVIDE FOR THE ALLOCATION OF SALES AND USE TAX PROCEEDS TO BE DISTRIBUTED TO RICHMOND COUNTY AND MUNICIPALITIES THEREIN IF RICHMOND COUNTY ELECTS TO IMPOSE THE LOCAL OPTION 1% SALES AND USE TAX.

The General Assembly of North Carolina do enact:

Section 1.  The tax proceeds which shall be distributed to Richmond County from the proceeds collected under the provisions of the Local Option Sales and Use Tax Act, in the event Richmond County elects to impose such tax as provided in said Act, shall be used only for public school capital outlay expenses and for debt service in connection with the retirement of school bonds. The tax proceeds which shall be distributed to the incorporated municipalities in Richmond County from the proceeds collected under the provisions of the Local Option Sales and Use Tax Act, in the event Richmond County elects to impose such tax as provided in said Act, may be used for any public purpose.

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  All laws and clauses of laws in conflict with this Act are hereby repealed.

Sec. 3.  This Act shall be in full force and effect upon its ratification.

In the General Assembly read three times and ratified, this the 2nd day of July, 1969.