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2020 North Carolina General Statutes
Chapter 160A - Cities and Towns
Article 20 - Interlocal Cooperation.
§ 160A-480.5 - Dissolution of Authority.
Universal Citation: NC Gen Stat § 160A-480.5 (2020)
160A-480.5. Dissolution of Authority.
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.)
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