State Codes and Statutes
Statutes > North-carolina > Chapter_116 > GS_116-35§ 116‑35. Electricpower plants, campus school, etc.
Institutions operatingelectric power plants and distribution systems as of October 30, 1971, areauthorized to continue such operation and, after furnishing power to theinstitution, to sell any excess current to the people of the community at arate or rates approved by the Utilities Commission. Any net profits derivedfrom the operation, or any proceeds derived from the lease or sale, of suchpower plants and distribution systems are appropriated and shall be paid intothe permanent endowment fund held for the institution as provided for in G.S.116‑36. Institutions operating or authorized to operate, as of October30, 1971, water or sewer distribution systems, may continue to do so. Each ofthe institutions now operating a campus laboratory or demonstration school maycontinue to do so under the presently existing plan of operation, consistentwith the appropriations made therefor. The provisions of this section shall notapply to the University Enterprises of the University of North Carolina atChapel Hill, which shall continue to be governed in all respects as provided inChapters 634 and 723 of the Session Laws of 1971, G.S. 116‑41.1 through116‑41.12, and other applicable legislation. (1971, c. 1244, s. 1; 2006‑203,s. 43.1.)
