State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_160B > GS_160B-15

§ 160B‑15.  Debtlimitations.

The net indebtedness in the form of general obligations of aconsolidated city‑county for school purposes may not exceed eight percent(8%) of the appraised valuation of taxable property in the county. The netindebtedness in the form of general obligations of a consolidated city‑countyfor all purposes other than for schools or water, sewerage, gas and electricpurposes may not exceed eight percent (8%) of the appraised valuation oftaxable property in the county. No other debt limitations applying to countiesand municipalities in North Carolina apply to a consolidated city‑county.(1973, c. 537, s. 1.)