HOUSE BILL 917
AN ACT TO AMEND CHAPTER 841 OF THE SESSION LAWS OF 1955 RELATING TO THE ESTABLISHING ALCOHOLIC BEVERAGE CONTROL STORES IN THE CITY OF HIGH POINT.
The General Assembly of North Carolina enacts:
Section 1. Section 6 of Chapter 841 of the Session Laws of 1955 as amended by Chapter 951 of the Session Laws of 1967 is rewritten to read as follows:
"Sec. 6. The City of High Point Board of Alcoholic Control shall at the end of each quarterly period following the establishment of liquor control stores deduct the necessary expenses of the operation of such stores, and shall expend for law enforcement, education and rehabilitation purposes not less than five percent (5%) nor more than fifteen percent (15%) of the total profits, and shall retain a sufficient and proper working capital, the amount to be determined by the board; and the entire net profits derived from the operation of liquor control stores in the City of High Point shall be paid as follows:
a. Twenty percent (20%) of said net profits shall be apportioned and paid into the General Fund of Guilford County.
b. Eighty percent (80%) of said net profits shall be paid to the tax collector of the City of High Point and may be used by the City of High Point for any public purposes."
Sec. 2. All laws and clauses of laws in conflict with this act are hereby repealed.
Sec. 3. This act shall become effective upon ratification.
In the General Assembly read three times and ratified, this the 2nd day of June, 1977.