Agenda - 07-23-1986 - Laserfiche WebLink

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eimmi I . ,- --.--- - — . • . , . . . . .. . . . , . • . . S (c) For purposes of determining the number of fiscal years in 006 which one-half percent (1/2X) sales and use taxes levied under this Article have been in effect in a eunicIpality, these tares Ir: are considered to be in effect only from the effective date of - , the levy of these taxes and are considered to be in effect for a full fiscal year during the first year in which these taxes were ..e. in effect, regardless of the number of months in that year in 1 which the taxes were actually in effect. (d) A municipality may expend part of all of the revenue ' .4... restricted for water and sewage capital needs pursuant to . ' subsection (a) in the fiscal year in which the revenue is I • received, or the municipality may place part or all of this ee 1 ' - revenue in a capital reserve fund and shall specifically identify this revenue in accordance with Chapter 159 of the General . Statutes. •411/10 . • (e) An authorization received by a municipality under G.S. . 105-487(c) to use all or part of its tax revenue for any lawful • . • purpose, which is still in effect during any period during which ee revenues are received under this Article shall, to the extent and • - duration of its applicability, also apply to the use of revenues received under this Article. H %NO Sec. 2. . G. 5. . 105-u86 and 105-493 are each amended hy deleting the words °and used from their catch lines. . . IWO . Sec. 3. This act is effective upon ratification. . In the General Assembly read three times and ratified, this the 7th day of July, 19. . 86. . .. . . . . . . . _ • • ...1( ROBERT B, JORDAN Ili Robert B. .Jordan 111 ' . • President of the Senate ,...,p . . _ • t.., . • LIMN 13- RAMSEY - ------..,__ • Liston F. Ramsey v.s, • . Speaker of the Rouse of Representatives • ..... . . • . . ..,.. . . . . . _ . . s . ,.., . . • . . 0 ,... . , • . . . . House 5111 1542 5 e 1 . . . e_.