HOUSE BILL 1579
AN ACT TO ALTER THE DISTRIBUTION OF PROFITS OF THE PITTSBORO ABC BOARD.
The General Assembly of North Carolina enacts:
Section 1. Section 9 of Chapter 365 of the 1967 Session Laws, as rewritten by Chapter 82 of the 1981 Session Laws, is amended by deleting subdivisions (1), (2), (3), and (4) of that section and substituting the following:
"(1) Five percent (5%) to the General Fund of the Town of Pittsboro for law enforcement purposes.
(2) Five percent (5%) to the General Fund of Chatham County for law enforcement purposes in the county.
(3) Ninety percent (90%) to the General Fund of the Town of Pittsboro to be used as follows:
(a) Ten percent (10%) for debt retirement
(b) Ten percent (10%) for library, recreational or other similar purpose undertaken by the town; and
(c) Seventy percent (70%) for any and all purposes for which tax and nontax revenues may be expended by the town."
Sec. 2. This act is effective upon ratification.
In the General Assembly read three times and ratified, this the 16th day of June, 1982.