HOUSE BILL 682
AN ACT TO ALLOW THE TOWN OF HOLDEN BEACH TO HOLD CERTAIN STREET ASSESSMENTS IN ABEYANCE.
The General Assembly of North Carolina enacts:
Section 1. Whenever any assessment is made under G.S. 160A-216(1) by the Town of Holden Beach as to High Point Street, Greensboro Street, Scotch Bonnet Drive, Sand Dollar Drive, Swordfish Drive, or Sailfish Drive, and the governing body finds that any property to be assessed is not developable because of federal or State laws or regulations, the assessment resolution may provide that an assessment levied under that subsection may be held in abeyance without interest until such property can be developed with a habitable dwelling, provided however, that any such assessment is automatically cancelled 15 years after it is levied if it is still being held in abeyance. Upon termination of the period of abeyance, the assessment shall be paid in accordance with the terms set out in the assessment resolution.
All statutes of limitations are suspended during the time that any assessment is held in abeyance without interest.
Sec. 2. This act applies to the Town of Holden Beach only.
Sec. 3. This act is effective upon ratification.
In the General Assembly read three times and ratified, this the 6th day of May, 1981.