§ 153A-317.16. Abolition of economic development and training districts. - North Carolina Statutes

§ 153A‑317.16.  Abolition of economicdevelopment and training districts.

A board of county commissioners may by resolution abolish a districtupon finding that a petition requesting abolition, signed by at least fiftypercent (50%) of the owners of real property in the district who own at leastfifty percent (50%) of the real and personal property in the district basedupon the most recent valuation thereof, has been submitted to the board andthat there is no longer a need for such district. In determining the total realand personal property in the district and the number of owners of real andpersonal property, there shall be excluded: (i) property exempted from taxationand property classified and excluded from taxation and (ii) the owners of suchexempted or classified and excluded property. The board shall hold a publichearing before adopting a resolution abolishing a district. Notice of thehearing shall state the date, hour, and place of the hearing and its subjectand shall be published at least once not less than one week before the date ofthe hearing. The abolition of any district shall take effect at the end of afiscal year following passage of the resolution, as determined by the board. (2003‑418, s. 1.)