Laws of North Carolina (Last Updated: May 12, 2015) |
Chapter160A. Cities and Towns. |
Article20. Interlocal Cooperation |
Part4. Facility Authorities |
§160A-480.5. Dissolution of Authority
Latest version.
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The General Assembly may dissolve an authority if all bonds or notes issued by the Authority and all other obligations incurred by the Authority have been fully paid or satisfied. In such event any assets of the Authority shall become the property of the county authorized to levy a room occupancy and prepared food and beverage tax to be distributed to the Authority.
(1995, c. 458, s. 1.)