§ 157-43. Advances and donations by the city and municipality. - North Carolina Statutes

§ 157‑43.  Advancesand donations by the city and municipality.

The council or other governing body of the city included within theterritorial boundaries of such authority is authorized to make an estimate ofthe amount of money necessary for the administrative expenses and overhead ofthe housing authority during the first year following the incorporation of suchhousing authority, and to appropriate such amount to the authority out of anymoneys in the city treasury not appropriated to some other purposes, and tocause the moneys so appropriated to be paid the authority as a donation, andmoneys so appropriated and paid to a housing authority by a city shall bedeemed to be a necessary expense of such city. In addition thereto, the cityand any municipality located in whole or in part within the boundaries of ahousing authority shall have the power annually and from time to time to makedonations or advances to the authority of such sums as the city or municipalityin its discretion may determine. The authority, when it has money availabletherefor, shall reimburse the city or municipality for all advances by way ofloan made to it. (1935, c. 408, s.5.)