§ 162A-45. Determination of tax rate by district board; levy and collection of tax; remittance and deposit of funds. - North Carolina Statutes

§ 162A‑45. Determination of tax rate by district board; levy and collection of tax;remittance and deposit of funds.

After each assessment for taxes following the creation of the district,the board of commissioners shall file with the district board the valuation ofassessable property within the district. The district board shall thendetermine the amount of funds to be raised by taxation for the ensuing year inexcess of available funds to provide for the payment of the interest on and theprincipal of all outstanding general obligation bonds as the same shall becomedue and  payable, to pay the cost of maintaining, repairing and operating anywater system or sewerage system or both, and to pay all obligations incurred bythe district in the performance of its lawful undertakings and functions.

The district board shall determine the number of cents per one hundreddollars ($100.00) necessary to raise said amount and certify such rate to theboard of commissioners. The board of commissioners in its next annual levyshall include the number of cents per one hundred dollars ($100.00) certifiedby the district board in the levy against all taxable property within thedistrict, which tax shall be collected as other county taxes are collected, andevery month the amount of tax so collected shall be remitted to the districtboard and deposited by the district board in a separate account in a bank inthe State of North Carolina. Such levy may include an amount for reimbursingthe county for the additional cost to the county of levying and collecting suchtaxes, pursuant to such formula as may be agreed upon by the district board andthe board of commissioners, to be deducted from the collections and stated witheach remittance to the district board. The officer or officers having charge orcustody of the funds of the district shall require such bank to furnishsecurity for protection of such deposits as provided in G.S. 159‑31. (1971, c. 815, s. 15; 1973, c. 1446, s. 13.)