§ 113-77.7. Natural Heritage Trust Fund. - North Carolina Statutes

§ 113‑77.7.  NaturalHeritage Trust Fund.

(a)        There isestablished a Natural Heritage Trust Fund in the State Treasurer's office thatshall be used to finance the Natural Heritage Trust Program authorized by thisArticle.

(b)        The State Treasurershall hold the Fund separate and apart from all other moneys, funds, andaccounts. Investment earnings credited to the assets of the Fund shall becomepart of the Fund. Any balance remaining in the Fund at the end of any fiscalyear shall be carried forward in the Fund for the next succeeding fiscal year.Payments from the Fund shall be made on the warrant of the Chairman of theBoard of Trustees.

(c)        When the Stateacquires land pursuant to this Article, the Trustees may direct a request tothe State Treasurer to set aside an amount from the Fund not to exceed twentypercent (20%) of the appraised value of the land acquired, or the land affectedif less than a fee interest was acquired, to be placed in a special stewardshipaccount in the Fund. The special stewardship account shall be a nonlapsingaccount, and income derived from investment of the account shall be credited tothe account. The special stewardship account shall be used for the managementof land acquired pursuant to this Article under the direction of the Trustees.

(d)        Monies in the Fundare appropriated annually and may be used for the purposes provided in G.S. 113‑77.9.(1987, c. 871,s. 1; 1989, c. 86, s. 1; 1993 (Reg. Sess., 1994), c. 772, s. 3; 1997‑366,s. 1; 2004‑179, s. 3.5.)