§ 63-86. Determination of tax rate by district board; levy and collection of tax; remittance and deposit of funds. - North Carolina Statutes

§63‑86.  Determination of tax rate by district board; levy and collectionof tax; remittance and deposit of funds.

After each assessment fortaxes following the creation of the district, the board or boards ofcommissioners of the county or counties within which the district is locatedshall file with the district board the valuation of assessable property withinthe district. The district board shall then determine the amount of funds to beraised by taxation for the ensuing year in excess of available funds to providefor the payment of interest on and principal of all outstanding generalobligation bonds as the same shall become due and payable and to pay allobligations incurred by the district in the performance of its lawfulundertakings and functions.

The district board shalldetermine the number of cents per hundred dollars necessary to raise saidamount and certify such rate to the appropriate board or boards ofcommissioners of the appropriate county or counties. The board or boards ofcommissioners of such county or counties shall include the number of cents perhundred dollars certified by the district board in its next annual levy againstall taxable property within the district, which tax shall be collected as othercounty taxes are collected, and every month the amount of tax so collectedshall be remitted to the district board and deposited by the district board ina separate account in a bank in the State. Such levy may include an amount forreimbursing the particular county for the cost to the county of levying andcollecting any such taxes. The officer or officers having charge or custody ofthe funds of the district shall require security for protection of deposits asprovided in the Local Government Budget and Fiscal Control Act. (1979,c. 689, s. 9.)