North Carolina § 160A-845 Reassessment of financial status

North Carolina Statutes

§ 160A-845 — Reassessment of financial status

North Carolina § 160A-845

Ch. 160ACities and Towns

Art. 32Transitions for Unsustainable Cities

This text of North Carolina § 160A-845 (Reassessment of financial status) is published on Counsel Stack Legal Research, covering North Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.C. Gen. Stat. § 160A-845 (2026).

Text

(a)After the first fiscal year of cooperation with the Commission, and every year thereafter, the council shall reassess its financial affairs with the assistance of the Commission. Upon completion of the reassessment, the Commission shall make a recommendation to the city as to whether or not the city's financial affairs are sufficiently stable to permit the city to continue operations.

(b)If the Commission finds that the city's financial affairs for three consecutive fiscal years are sufficiently stable to continue operations, the Commission shall relinquish any authorities exercised under G.S. 159-181 or G.S. 160A-841 with respect to that city.

(c)Notwithstanding subsection (a) of this section, if at any time the Commission finds that the city's financial affairs are not sufficiently

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(a) After the first fiscal year of cooperation with the Commission, and every year thereafter, the council shall reassess its financial affairs with the assistance of the Commission. Upon completion of the reassessment, the Commission shall make a recommendation to the city as to whether or not the city's financial affairs are sufficiently stable to permit the city to continue operations.
(b) If the Commission finds that the city's financial affairs for three consecutive fiscal years are sufficiently stable to continue operations, the Commission shall relinquish any authorities exercised under G.S. 159-181 or G.S. 160A-841 with respect to that city.
(c) Notwithstanding subsection (a) of this section, if at any time the Commission finds that the city's financial affairs are not sufficiently stable to continue operations, the Commission may exercise, or continue to exercise, its authority under this Part and begin to identify local government partners for merger or dissolution of the city. (2021-124, s. 6.)