NORTH CAROLINA GENERAL ASSEMBLY
 SESSION

CHAPTER 100
HOUSE BILL 120

AN ACT TO AMEND G.S. 160-417 AND G.S. 160-2, RELATING TO THE DURATION OF LOCAL REVENUE BONDS AND THE DURATION OF A MUNICIPAL CONTRACT FOR A WATER SUPPLY.

The General Assembly of North Carolina do enact:

Section 1.  G.S. 160-417 is hereby amended by striking out the words "thirty-five years" in line 3 and inserting in lieu thereof "forty years".
Sec. 2.  Subdivision (6) of G.S. 160-2 is hereby amended by rewriting the last line and all of the next to the last line following the word "town" to read as follows:
"and also to make contracts, for a period not exceeding forty years, for the supply of water and, not exceeding thirty years, for the supply of light or other public commodity."
Sec. 3.  All laws and clauses of laws in conflict with this Act are hereby repealed.
Sec. 4.  This Act shall become effective from and after its ratification.
In the General Assembly read three times and ratified, this the 28th day of March, 1967.