NORTH CAROLINA GENERAL ASSEMBLY

1979 SESSION

 

 

CHAPTER 775

SENATE BILL 853

 

 

AN ACT TO SPECIFY THE USE OF GRANT FUNDS BY ECONOMIC DEVELOPMENT COMMISSIONS.

 

The General Assembly of North Carolina enacts:

 

Section 1.  G.S. 158-13 is amended by redesignating subdivision "(5)" as "(6)", and is further amended by inserting a new subdivision "(5)" to read as follows:

"(5)      Use grant funds to make loans for purposes permitted by the federal government, by the grant agreement and in furtherance of economic development; the economic development commission may delegate to another organization or agency the implementation of the grant's purposes, subject to approval by the federal agency involved and the commission's board of directors."

Sec. 2.  This act is effective upon ratification.

In the General Assembly read three times and ratified, this the 4th day of June, 1979.