GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 1993

S	1 

SENATE BILL 1276

Short Title:  COPs Moratorium.	(Public)
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Sponsors: Senator Sherron.
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Referred to:  Local Government and Regional Affairs.
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July 5, 1993

A BILL TO BE ENTITLED
AN ACT TO PLACE A MORATORIUM ON ISSUANCE OF CERTAIN CERTIFICATES OF PARTICIPATION FOR MAJOR PROJECTS.
The General Assembly of North Carolina enacts:
Section 1.  No contract may be entered into under G.S. 160A-20  between the date of ratification of this act and July 1, 1994, if the purchase price exceeds five hundred thousand dollars ($500,000).
Sec. 2.  This act does not apply to any contract under G.S. 160A-20 which had been submitted on or before February 16, 1993, to the Local Government Commission for approval under Article 8 of Chapter 159 of the General Statutes.   This act only applies to a contract if G.S. 160A-20(e) requires the approval of the contract by the Local Government Commission
Sec. 3.  This act is effective upon ratification.