A BILL TO BE ENTITLED
AN ACT to authorize the town of lewiston woodville to borrow money from the county of bertie for the purpose of repaying the internal revenue service.
The General Assembly of North Carolina enacts:
SECTION 1.  G.S. 159‑49 reads as rewritten:
"§ 159‑49.  When a vote of the people is required.
Bonds may be issued under this Article only if approved by a vote of the qualified voters of the issuing unit as provided in this Article, except that voter approval shall not be required for:
(1)	Bonds issued for any purpose authorized by G.S. 159‑48(a)(1), (2), (3), or (5).
(2)	Bonds issued by a county, county water and sewer district created under Article 6 of Chapter 162A of the General Statutes, metropolitan water district created under Article 4 of Chapter 162A of the General Statutes, or city for any purpose authorized by G.S. 159‑48(a)(4), (6), or (7) or G.S. 159‑48(b), (c), (d), or (e) (except purposes authorized by G.S. 159‑48(b)(3), (11), (16), (22), or (23) or by G.S. 159‑48(d)(2)) in an aggregate principal sum not exceeding two thirds of the amount by which the outstanding indebtedness of the issuing county, county water and sewer district, metropolitan water district, or city has been reduced during the next preceding fiscal year.
Pursuant to Article V, Sec. 4(2) of the Constitution, the General Assembly hereby declares that the purposes authorized by G.S. 159‑48(a)(7) are purposes for which bonds may be issued without a vote of the people."
SECTION 2.  This act shall apply only to the Town of Lewiston Woodville for the sole purpose of repaying debt owed to the Internal Revenue Service.
SECTION 3.  This act is effective when it becomes law and expires on December 31, 2010.