160A-825. Purpose of Article; definition. (a) The purpose of this Article is to provide a process for a city in financial distress to transition out of that distress either on its own initiative or with assistance from or under the direction of the Local Government Commission. (b) For purposes of this Article, the following terms […]
160A-831. Initiation of process. (a) The process established by this Article to rehabilitate a city’s financial affairs may be initiated by the Commission. The Commission shall establish criteria for evaluating a city for financial rehabilitation under this Article. (b) The Commission shall apply those criteria to each city with respect to which the Commission has […]
160A-833. Assessment of services and financial affairs. (a) Upon initiation of the process under G.S. 160A-831, the city shall cooperate and provide information to the Commission to assess the city’s financial affairs. The assessment shall include a review of all of the following: (1) The revenues of the city. (2) The future revenue forecast of […]
160A-841. Local Government Commission control. (a) If the Commission determines a city should be subject to this Part but the Commission has not exercised its authority under G.S. 159-181(c) after completion of the financial assessment and receipt or completion of the report required by G.S. 160A-833, the Commission may impound the books and records of […]
160A-845. Reassessment of financial status. (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 […]
160A-848. Distribution of services, assets, liabilities, and other obligations. (a) Upon a determination under G.S. 160A-845(c), the city shall work with the Commission to identify local government partners able to provide the services identified by the city as necessary for its citizens. The city shall, after negotiating its terms, enter into interlocal agreements with any […]
160A-850. Effect of merger or dissolution. (a) Upon adoption of the resolution of transfer and dissolution by the Commission under G.S. 160A-848, all of the following shall apply on the effective date set forth in the resolution of transfer and dissolution: (1) All property, real, personal, and mixed, including accounts receivable, belonging to the dissolving […]
160A-853. Action by the General Assembly. A resolution of transfer and dissolution by the Commission under G.S. 160A-848 remains in effect unless it is specifically disapproved by the General Assembly in a bill enacted into law on or before the effective date of the resolution. A resolution of transfer and dissolution that is specifically disapproved […]
160A-860. Initiation of voluntary dissolution. Any city may initiate administrative dissolution in accordance with this Part by adoption of a resolution of intent. Such resolution of intent shall be adopted at a regular meeting of the city. A copy of the adopted resolution of intent shall be delivered to the Commission and the county or […]
160A-862. Impact statement. (a) Within 90 days of the adoption of a resolution of intent to dissolve, the council shall release an impact statement to educate the city residents of the potential ramifications of dissolution. The impact statement shall be filed in the office of the city clerk where it shall remain available for public […]
160A-864. Public hearings on proposed dissolution. (a) The council shall conduct at least two public hearings, at regular council meetings, on the matter of the proposed dissolution of the city. The first public hearing shall be no less than 45 days after the filing of the impact statement with the city clerk and no more […]
160A-866. Plan of action; Local Government Commission approval. (a) Prior to adopting a resolution to dissolve under G.S. 160A-868, the council must develop a plan of action to distribute all assets and liabilities of the city, and that plan must be approved by the Commission. However, the council may, at a regular meeting separate and […]
160A-868. Resolution to dissolve; public hearing. (a) After the plan of action has been presented as required under G.S. 160A-866, the council shall conduct a public hearing on whether to adopt a resolution to dissolve the city in accordance with the plan of action. Notice of the public hearing shall be published at least once […]
160A-870. Citizen petition for referendum on dissolution. (a) The people may initiate a referendum on the resolution to dissolve the city by submitting a petition bearing the signatures and resident addresses of a number of qualified voters of the city equal to at least twenty-five percent (25%) of the whole number of voters who are […]
160A-872. Dissolution. After the time for submitting a petition under G.S. 160A-870 has passed and no petition has been submitted or the referendum authorized under this Part was answered in favor of dissolution, the city may implement the plan of action. The effective date of the plan of action to dissolve shall be June 30 […]
