A BILL TO BE ENTITLED
AN ACT authorizing the town of holden beach to accumulate funds in a capital reserve fund for the purpose of canal dredging and maintenance for a period of ten years.
The General Assembly of North Carolina enacts:
SECTION 1.  Section 6.1 of S.L. 2004‑104 reads as rewritten:
"SECTION 6.1. Capital Reserve Fund. – If a municipality establishes a capital reserve fund under Chapter 159 of the General Statutes to build up funds for the purpose of providing the service under this act, it may delay providing the service until sufficient funds have accumulated, but in no case to exceed 10 years."
SECTION 2.  This act applies to the Town of Holden Beach only.
SECTION 3.  This act is effective when it becomes law.