GENERAL ASSEMBLY OF NORTH CAROLINA
1993 SESSION

CHAPTER 652
SENATE BILL 1632

AN ACT TO INCORPORATE INTO THE CHARTER OF THE CITY OF ASHEVILLE AN AGREEMENT MAKING A FULL AND FINAL SETTLEMENT OF DISPUTED MATTERS RELATING TO THE AMOUNT OF FRANCHISE TAX DUE THE CITY BY TWO PUBLIC UTILITIES.

The General Assembly of North Carolina enacts:

Section 1.  Section 389 of Chapter 16 of the Private Laws of 1923 is amended by adding the following immediately before the period at the end: "; provided, however, the imposition and payment of taxes, authorized by this section, on and by Carolina Power & Light Company and Public Service Company of North Carolina, Inc., their successors or assigns, shall be governed by that Agreement dated the 24th day of May 1994, by and among the City of Asheville, Carolina Power & Light Company, and Public Service Company of North Carolina, Inc., which Agreement was approved and authorized to be executed by the Asheville City Council by its Resolution Number 94-96, and which Agreement is spread upon the official minutes of the City Council of the same date".
Sec. 2.  This act is effective upon ratification.
In the General Assembly read three times and ratified this the 1st day of July, 1994.

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Dennis A. Wicker
President of the Senate

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Daniel Blue, Jr.
Speaker of the House of Representatives