§ 160A-583. Funds. - North Carolina Statutes

§ 160A‑583.  Funds.

The establishment and operation of a transportation authority as hereinauthorized are governmental functions and constitute a public purpose, and themunicipality is hereby authorized to appropriate funds to support theestablishment and operation of the transit authority. The municipality may alsodedicate, sell, convey, donate or lease any of its interest in any property tothe authority. Further, the authority is hereby authorized to establish suchlicense and regulatory fees and charges as it may deem appropriate, subject tothe approval of the governing body of the municipality. If the governing bodyfinds that the funds otherwise available are insufficient, it may call aspecial election without a petition and submit to the qualified voters of themunicipality the question of whether or not a special tax shall be leviedand/or bonds issued, specifying the maximum amount thereof, for the purpose ofacquiring lands, buildings, equipment and facilities and for the operations ofthe transit authority. (1977, c. 465; 1979, 2nd Sess., c. 1247, s. 45.)