NORTH CAROLINA GENERAL ASSEMBLY

1969 SESSION

CHAPTER 99

HOUSE BILL 175

AN ACT TO PROVIDE THAT THE ISSUANCE OF BONDS AFTER A BOND ORDER TAKES EFFECT SHALL BE EXTENDED BY THE PERIOD OF TIME WITHIN WHICH SUCH BONDS COULD NOT BE ISSUED BECAUSE OF LITIGATION.

The General Assembly of North Carolina do enact:

Section 1.  Amend G.S. 153-102 by adding at the end of the first paragraph of said Section another proviso which shall read as follows:

"Provided further that where the issuance of bonds is prevented or prohibited by any injunction, restraining order or any other court proceeding or action at law or equity, and said injunction, restraining order, proceedings or actions are dismissed, then the period of time in which such bonds may be issued shall be extended by adding the period of time involved in the litigation to the five year period of time fixed by this Section."

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  All laws and clauses of laws in conflict with this Act are hereby repealed.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 from and after its ratification.

In the General Assembly read three times and ratified, this the 19th day of March, 1969.