§ 159-37. Reports on status of sinking funds. - North Carolina Statutes

§ 159‑37.  Reportson status of sinking funds.

Each unit or public authority maintaining any sinking fund shalltransmit to the secretary upon his request financial reports on the status ofthe fund and the means by which moneys are obtained for deposit therein. Thesecretary shall determine from this information whether the sinking funds arebeing properly maintained, and if he shall find that they are not, he shallorder the unit to take such action as may be necessary to maintain the funds inaccordance with law. (1931, c. 60, s. 31; 1971, c. 780, s. 1.)