NORTH CAROLINA GENERAL ASSEMBLY

1961 SESSION

 

 

CHAPTER 995

SENATE BILL 478

 

 

AN ACT TO PROVIDE A DEFICIENCY APPROPRIATION FOR THE AGRICULTURAL AND TECHNICAL COLLEGE AT GREENSBORO FOR THE FISCAL YEAR 1960-61.

 

WHEREAS, the Agricultural and Technical College at Greensboro failed by a substantial margin to enroll in the 1960‑61 regular academic session as many students as had been anticipated in the formulation of its budget for the said fiscal year; and,

WHEREAS, the result of said circumstance is a deficiency of receipts from students which the budget contemplated would become available to aid in financing operations of the institution during the fiscal year, said deficiency being so great that it could not be offset completely by effectuating all feasible economies in operating costs and stringent efforts to collect all accounts receivable; and,

WHEREAS, the remaining deficiency of funds presents the institution with the alternatives of requesting a deficiency appropriation of the General Assembly or, otherwise, sustaining impairment of its credit with suppliers by extended delay in paying its bills and beginning the new biennium with a backlog of overdue accounts payable; Now, therefore,

 

The General Assembly of North Carolina do enact:

 

Section 1.  There is hereby appropriated out of the General Fund of the State the sum of fifty‑seven thousand one hundred and seventy‑six dollars ($57,176.00) as a deficiency appropriation to be used exclusively for the purpose of settling outstanding accounts payable which are due or overdue for payment as of June 30, 1961, provided said accounts have arisen under the operations and maintenance budget of the institution.

Sec. 2.  All laws and clauses of laws in conflict with this Act are hereby repealed.

Sec. 3.  This Act shall be effective on and after the date of its ratification.

In the General Assembly read three times and ratified, this the 17th day of June, 1961.