A BILL TO BE ENTITLED
AN ACT to allow local governments to issue bonds to fund other post‑Employment benefits.
The General Assembly of North Carolina enacts:
SECTION 1.  G.S. 159‑48(a) is amended by adding a new subdivision to read:
"(a)	Each unit of local government is authorized to borrow money and issue its bonds under this Article in evidence thereof for any one or more of the following purposes:
…
(8)	To fund valid obligations of the unit with respect to other post‑employment benefits as that term is defined by generally accepted accounting principles."
SECTION 2.  This act becomes effective July 1, 2007.