NORTH CAROLINA GENERAL ASSEMBLY

1969 SESSION

CHAPTER 993

SENATE BILL 679

AN ACT AMENDING G.S. 153-296, 153-311 AND 153-312, THE SAME BEING PART OF THE NORTH CAROLINA METROPOLITAN SEWERAGE DISTRICTS ACT.

The General Assembly of North Carolina do enact:

Section 1.  G.S. 153-296(a) is hereby amended by adding thereto a new paragraph, designated (9a), as follows:

"(9a)     The word 'revenues' shall mean all moneys received by a district from, in connection with or as a result of its ownership or operation of a sewerage system, including, without limitation and if deemed advisable by the district board, moneys received from the United States of America, or any agency thereof, pursuant to an agreement with the district board pertaining to the sewerage system."

Sec. 2.  G.S. 153-311 is hereby amended by deleting in the first sentence thereof the phrase "not exceeding six per centum (6%) per annum".

Sec. 3.  G.S. 153-312 is hereby amended by rewriting the second paragraph thereof to read as follows:

"All revenue bonds issued under the provisions of this Article shall be approved and sold by the Local Government Commission in the same manner as municipal bonds are approved and sold by said Commission, except that upon the filing with said Commission of a resolution of the district board requesting that its revenue bonds be sold at private sale and without advertisement and upon the approval of such request by said Commission, such bonds may be sold by said Commission at private sale and without advertisement to any purchaser or purchasers thereof, such sale to be for such price as said Commission shall determine to be in the best interests of the district and as shall be approved by the district board."

Sec. 4.  All laws and clauses of laws in conflict with the provisions of this Act are hereby repealed.

Sec. 5.  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 24th day of June, 1969.