2014 North Carolina General Statutes
Chapter 160A - Cities and Towns.
Article 20 - Interlocal Cooperation.
§ 160A-479.6 - 6. Withdrawal from authority.
160A-479.6. Withdrawal from authority.
Any member government may withdraw from a regional sports authority at the end of any fiscal year by giving at least 60 days' written notice to each of the other members. A withdrawal does not affect the validity of any revenue bonds or notes, and any revenue from sports facilities in the area of the member government that was pledged in payment of bonds or notes issued before the date of notice of withdrawal remains pledged for that purpose until the bonds and notes and interest on the bonds and notes have been paid. Withdrawal of a member government shall not dissolve the authority if at least two members remain. (1989, c. 780, s. 1.)
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