§ 160A-480.5. Dissolution of Authority. - North Carolina Statutes

§ 160A‑480.5. Dissolution of Authority.

The General Assembly may dissolve an authority if all bonds or notesissued by the Authority and all other obligations incurred by the Authorityhave been fully paid or satisfied. In such event any assets of the Authorityshall become the property of the county authorized to levy a room occupancy andprepared food and beverage tax to be distributed to the Authority. (1995, c. 458, s. 1.)