S.L. 1969-307

1969 SESSION

CHAPTER 307

SENATE BILL 431

AN ACT AUTHORIZING CABARRUS COUNTY BOARD OF EDUCATION TO EXCHANGE REAL PROPERTY.

WHEREAS, the Kannapolis City Board of Education and Cabarrus County Board of Education and Cannon Mills Company have entered into a Plan for Exchange and Acquisition of Real Property for Public School Purposes, which Plan was filed in the office of the Clerk of Superior Court of Cabarrus County on August 14, 1968, and filed in the office of the Superintendent of Schools for the Kannapolis City Administrative Unit, in the office of the Superintendent of Schools for the Cabarrus County Board of Education on August 15, 1968, and published in The Daily Independent, a newspaper for general circulation in Cabarrus County on August 16 and 19, 1968; and

WHEREAS, by the terms of the said Plan, it was agreed:

I. That Kannapolis City Board of Education and Cabarrus County Board of Education shall deed and convey in fee simple to Cannon Mills Company a tract of land containing approximately 3.138 acres on the West side of South Main Street, on the North side of Cabarrus Drive, on the East side of West Avenue, and on the South side of West "C" Street in Kannapolis, being known as the McIver School property; and also another tract of land containing approximately 2 acres at the Northeast intersection of Third and Narrow Streets in Kannapolis, and known as a part of the Carver School property, which said two tracts of land, more fully described in the Plan, are now undesirable for school purposes;

II. Cannon Mills Company shall deed and convey in fee simple to the Cabarrus County Board of Education a tract of land containing approximately 1.95 acres, on the East side of South Ridge Avenue and the South side of Center Grove Road and adjoining the Aycock School property, which said tract of land, more fully described in the Plan, is needed for the operation of the Aycock School;

III. Cannon Mills Company shall pay to the public school authorities the sum of two hundred seven thousand dollars ($207,000.00), which represents the difference in the market value of the property referred to above in Paragraphs I and II;

Now, therefore,

The General Assembly of North Carolina do enact:

Section 1. That the Kannapolis City Board of Education and the Cabarrus County Board of Education be, and they are hereby, authorized to consummate the said Plan for Exchange and Acquisition of Real Property for Public School Purposes and to execute, make and deliver any and all deeds and instruments necessary to make the conveyance.

Sec. 2. This Act shall be effective upon ratification.

In the General Assembly read three times and ratified, this the 25th day of April, 1969.