NORTH CAROLINA GENERAL ASSEMBLY

1975 SESSION

CHAPTER 872

HOUSE BILL 1222

AN ACT TO AMEND THE CHARTER OF THE TOWN OF STOVALL TO INCREASE THE ALLOWABLE TAX RATE.

The General Assembly of North Carolina enacts:

Section 1. Chapter 436 of the Private Laws of 1907 is amended by striking out of Section 5 thereof the words and figures "twenty-five cents ($.25) on the one hundred dollars' ($100.00) worth of property and fifty cents ($.50) on the poll" and by inserting in lieu thereof the words and figures "one dollar ($1.00) on the one hundred dollars' ($100.00) appraised value of property".

Sec. 2. The maximum allowable tax rate authorized by this act may be levied for the fiscal year 1975-76 and subsequent years, regardless of the date of ratification of this act.

Sec. 3. Subject to Section 2 hereof, this act shall become effective upon ratification.

In the General Assembly read three times and ratified, this the 26th day of June, 1975.