NORTH CAROLINA GENERAL ASSEMBLY

1973 SESSION

 

 

CHAPTER 362

HOUSE BILL 941

 

AN ACT TO AUTHORIZE THE CITY OF FAYETTEVILLE TO COOPERATE WITH PRIVATE CORPORATIONS FOR INDUSTRIAL DEVELOPMENT PURPOSES.

 

The General Assembly of North Carolina enacts:

 

Section 1. The governing body of the City of Fayetteville is hereby authorized to expend nontax funds for the purpose of aiding and encouraging the location of manufacturing enterprises, industrial and commercial plants and for making industrial surveys, and for such other purposes as will increase the population, taxable property, jobs, industrial and business prospects in or near the city. In the exercise of this authority, the city may authorize the expenditure of such funds through its agencies and departments and it may join and cooperate with private non-profit industrial development corporations in carrying out the purposes herein authorized.

Sec. 2. This act shall become effective upon ratification.

In the General Assembly read three times and ratified, this the 7th day of May, 1973.