A city is authorized to enter into contracts for a period not exceeding 40 years for the supply of water, and for a period not exceeding 30 years for the supply of electric power or other public commodity or services.
N.C. Gen. Stat. § 160A-322
Contracts for electric power and water
Applied in 1 court decision — leading case 105 N.C. App. 258 - Mulberry-Fairplains Water Ass'n, Inc. v. Town of North Wilkesboro (1992)
Most recently applied in 105 N.C. App. 258 - Mulberry-Fairplains Water Ass'n, Inc. v. Town of North Wilkesboro (February 1992)
Code, ss. 704, 3117; 1901, c. 283; 1905, c. 526; Rev., s. 2916; 1907, c. 978; P.L. 1917, c. 223; C
Official source: North Carolina General Assembly. Reproduced from public-domain North Carolina statutes; confirm against the official source for the current text. Not legal advice.