A BILL TO BE ENTITLED
AN ACT authorizing the town of farmville to convey certain property at a private sale.
The General Assembly of North Carolina enacts:
SECTION 1.(a)  Notwithstanding Article 12 of Chapter 160A of the General Statutes, the Town of Farmville may convey by private negotiation and sale, with or without monetary consideration, any or all of its right, title, and interest in the following described property to the Farmville Economic Development Council, Incorporated:
Lots #6, 7, 8, 9, 22, 23, 24, 25, 26, 27, 28, and 29 of the Washington Heights Subdivision, according to the map made by Joe W. Stout & Company on February 4, 1920, and of record in Map Book 1, page 179 of the Pitt County Registry. The property is further described on a survey entitled "Survey for Town of Farmville," prepared by McDavid Associates, Inc., and dated April 26, 2001.
SECTION 1.(b)  The Farmville Economic Development Council shall use the property described in subsection (a) of this section for any of the following public purposes that stimulate the local economy and promote business in the Town of Farmville: the location of new or expanded service or industrial facilities, manufacturing, assembly, fabrication, processing, warehousing, research and development, office use or use as a shell business, or new business incubator.  The Council may lease, subdivide, mortgage, sell, or convey the property for any public purpose authorized in this act.
SECTION 2.  The restrictions stated in this act shall apply only to the Town of Farmville and the Farmville Economic Development Council, Incorporated.
SECTION 3.  This act is effective when it becomes law.