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N.C. Gen. Stat. § 160A-480.5

Dissolution of Authority

North Carolina · North Carolina General Statutes Chapter 160A — Chapter 160A. · Status: effective

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N.C. Gen. Stat. § 160A-480.5, Dissolution of Authority, North Carolina, version 1 as recorded 2026-08-18, yourstate.us, https://yourstate.us/provision/1333859
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Dissolution of Authority. The General Assembly may dissolve an authority if all bonds or notes issued by the Authority and all other obligations incurred by the Authority have been fully paid or satisfied. In such event any assets of the Authority shall become the property of the county authorized to levy a room occupancy and prepared food and beverage tax to be distributed to the Authority. (1995, c. 458, s. 1.)