160A-564. Termination of authority.
The city council shall have the authority to terminate the existence of the authority at any time. In the event of such termination, all property and assets of the authority shall automatically become the property of the city and the city shall succeed to all rights, obligations and liabilities of the authority. (1951, c. 779, s. 20; 1979, 2nd Sess., c. 1247, ss. 43, 44.)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 160A - Cities and Towns
Article 24 - Parking Authorities.
§ 160A-552 - Creation of authority.
§ 160A-554 - Duty of authority and commissioners.
§ 160A-555 - Interested commissioners or employees.
§ 160A-556 - Purpose and powers of the authority.
§ 160A-559 - Moneys of the authority.
§ 160A-560 - Bonds legal investments for public officers and fiduciaries.
§ 160A-561 - Exemptions from taxation.
§ 160A-562 - Tax contract by the State.
§ 160A-563 - Actions against the authority.
§ 160A-564 - Termination of authority.
§ 160A-565 - Inconsistent provisions in other acts superseded.