NORTH CAROLINA GENERAL ASSEMBLY

1959 SESSION

 

 

CHAPTER 730

HOUSE BILL 979

 

 

AN ACT AMENDING SECTION 9, CHAPTER 4, PUBLIC-LOCAL LAWS OF 1937 SO AS TO AUTHORIZE THE SINKING FUND COMMISSION FOR BUNCOMBE COUNTY TO RECEIVE, INVEST AND ACCOUNT FOR ANY FUNDS PLACED IN A SCHOOL CAPITAL RESERVE FUND IN BUNCOMBE COUNTY.

 

The General Assembly of North Carolina do enact:

 

Section 1. That Section 9 of Chapter 4, Public-Local Laws of 1937, be and the same is hereby amended by adding at the end thereof the following:

"In case a School Capital Reserve Fund shall be established in Buncombe County under the provisions of H. B. 572, enacted by the 1959 Session of the General Assembly, such funds in Buncombe County shall be paid over to the Sinking Fund Commission for Buncombe County and shall be invested and accounted for by said Sinking Fund Commission in the manner provided for in said H. B. 572."

Sec. 2. All laws and clauses of laws in conflict with the provisions of this Act are hereby repealed.

Sec. 3. This Act shall be in full force and effect from and after its ratification.

In the General Assembly read three times and ratified, this the 3rd day of June, 1959.