North Carolina General Statutes § 159-177 Power to require reports and approve budgets

When a refinancing plan has been put into effect pursuant to G.S. 159-176, the Commission shall have authority to require any periodic reports on the unit's or municipality's financial affairs (in addition to those otherwise required by law) that the secretary deems necessary, and to approve or reject the unit's or municipality's annual budget ordinance. The governing board of the unit or municipality shall obtain the approval of the secretary before adopting the annual budget ordinance. If the Commission recommends modifications in the budget, the governing board shall be under an affirmative duty to make the modifications before adopting the budget ordinance. (1935, c. 124, ss. 3, 4; 1971, c. 780, s. 1; 1973, c. 494, ss. 41, 42.)

Sections:  Previous  159-168  159-169  159-170  159-171  159-172  159-175.10  159-176  159-177  159-178  159-181  159-182  159-188  159-193  159-194  159-195  Next

Last modified: March 23, 2014