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_ •:: mfr. . t ' _ti+�;-p M <br /> .� .. .... , rte. _ <br /> d <br /> GENERAL ASSEMBLY OF NORTH CAROLINA <br /> ` SESSION 1933 . " <br /> SENATE BILL 51 <br /> Short Title: 4% State Sales Tax/No Tax on Food. (Public) <br /> € <br /> Senators Royall; Garvin. <br /> - <br /> Sponsors: Y + <br /> Deferred to: F1nance.. <br /> I <br /> January 28, 1983 <br /> -A, BILL TO BE ENTITLED <br /> 1 <br /> 2 <br /> AN ACT TO ENACT THE NORTH CAROLINA ANTI-BECHSSION PUBLIC WORKS <br /> 3 AND TAI EQUITY ACT OF 1983.. <br /> 4 Whereas, the prospects for emerging from the current <br /> 5 lingering economic recession are clouded by a neglected and <br /> 6 decaying system of public works; and <br /> y^.F <br /> 7 Whereas, a system of neglected and aging public works <br /> 9 poses (t major obstacle to a sustained economic recovery in <br /> 9 providi g more goods and services, more jobs, more income and an <br /> . 10 expanded State and local tax base; and <br /> 11 Whereas, almost one out of every 10 workers in North <br /> t2 Carrolbi;na,, over 270,.000, are currently unemployed; and <br /> 13 Whereas, increased local ad valorem taxes and uncertain <br /> 14 interest rates during the .economic recession have drawn public <br /> 15 resistance against new local and State bonded indebtedness; and <br /> b 16 Whereas, 30-year bonded indebtedness can require a <br /> 17 repaymen of more than twice the amount of the bond principal <br /> 18 when i„4 rc sd. ........-- - __ . <br />