NORTH CAROLINA GENERAL ASSEMBLY

1963 SESSION

 

 

CHAPTER 1216

SENATE BILL 689

 

 

AN ACT TO AMEND CHAPTER 593 OF THE SESSION LAWS OF 1951 RELATING TO THE POWERS AND DUTIES OF THE TAR RIVER PORT COMMISSION.

 

The General Assembly of North Carolina do enact:

 

Section 1. Chapter 593 of the Session Laws of 1951 is hereby amended by adding a new subdivision to Section 5 thereof to be designated subdivision (q) and to read as follows:

"(q)     To make loans or otherwise advance funds to any agency of the State of North Carolina authorized to borrow money or receive grants for the purpose of constructing or improving any facilities of such agency, which can be used in conjunction with related projects or facilities of the Tar River Port Commission. Any facilities of any agency of the State of North Carolina, constructed or improved with funds from the Tar River Port Commission, shall be considered projects of the Tar River Port Commission for which it shall be authorized to issue revenue bonds and to pledge in payment net revenues from the project or facilities financed."

Sec. 2. All laws and clauses of laws in conflict with this Act are hereby repealed.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 26th day of June, 1963.