§ 105-460. Distribution of funds by State Treasurer. - North Carolina Statutes

§105‑460.  Distribution of funds by State Treasurer.

The Treasurer of the State ofNorth Carolina shall then ascertain the payments to be made to the localgovernments upon the basis of the provisions of G.S. 105‑459 and he isauthorized and directed to distribute the same between the local governments inaccordance with the foregoing provisions of G.S. 105‑459. The Treasurerof the State of North Carolina is further authorized and directed to pay saidsums to the local governments each month or so often as he shall receivepayments from the Authority, but not more often than once each month, afterfirst deducting from any sum to be paid a local government such amount as hastheretofore been paid direct to said local government by the Authority for thesame period: Provided, however, that the minimum annual payment to any localgovernment from said fund shall not be less than the average annual tax on theproperty taken by the Authority for the two years next preceding the taking. (1941,c. 85, s. 3; 1959, c. 1060.)