§ 162A-71. Determination of tax rate by district board; levy and collection of tax; remittance and deposit of funds. - North Carolina Statutes

§ 162A‑71. 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 or boards of commissioners shall file with the district board thevaluation of assessable property within the district. The district board shallthen determine the amount of funds to be raised by taxation for the ensuingyear in excess of available funds to provide for the payment of interest on andthe principal of all outstanding general obligation bonds as the same shallbecome due  and payable, to pay the cost of maintaining, repairing andoperating any sewerage system or systems, and to pay all obligations incurredby the 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 or boards of commissioners. The board or boards of commissioners shallinclude the number of cents per one hundred dollars ($100.00) certified by thedistrict board in its next annual 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 or boards of commissioners, to be deducted from the collections andstated with each remittance to the district board. The officer or officershaving  charge or custody of the funds of the district shall require said bankto furnish security for protection of such deposits as provided in G.S. 159‑28and, after June 30, 1973, G.S. 159‑31. (1961, c. 795, s. 15; 1973, c. 512, s. 4; c. 822, s. 4.)