§ 160A-479.6. Withdrawal from authority. - North Carolina Statutes

§ 160A‑479.6. Withdrawal from authority.

Any member government may withdraw from a regional sports authority atthe end of any fiscal year by giving at least 60 days' written notice to eachof the other members.  A withdrawal does not affect the validity of any revenuebonds or notes, and any revenue from sports facilities in the area of themember government that was pledged in payment of bonds or notes issued beforethe date of notice of withdrawal remains pledged for that purpose until thebonds and notes and interest on the bonds and notes have been paid.  Withdrawalof a member government shall not dissolve the authority if at least two membersremain. (1989, c. 780, s.1.)