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SENATE BILL 2 Chapter 480, 1985 Session Lava ~ater and Sever Fuedlng Sec. 5.12. (a) State funds allocated to any rater or sever project vith the funds appropriated in Section 4 of this act for rater and sever projects may not comprise more than fifty percent (50Z) of the total project cost if federal funds are not available, or fifty (50Z) of the nonfederal share if federal funds are available. (b) A rater or sever project may be funded under this act if it is an eliglble project under the North Carolina Clean ~ater Bond Act of 1977~ but vithout regard to availability of federal funds. (c) Of the funds appropriated in Section 4 of this act for ~ater and sever projects, an amount is allocated to each county based on the proportion the populatlon'of the county bears to the total population of the State according to the population estimates of the State and county as of July I~ 1984, as certified by the State Budget Officer as of July 15, 1985, and multiplying such proportion by the entire amount appropriated for rater and sever projects. (d) Within the county allocation, the amounts are suballoceted: (1) To each incorporated city in the county in accordance vith the proportion the population of the city (or if the city is located in more than one county~ the population of the city vlthin the county) bears to the total population of the county in accordance vlth the July 1, 1983, population estimates vlth boundaries as o[ July 1, 1984, of the city and county as certified by the State Budget Officer as of September 15, 1984, but including estimates for cities ne~ly incorporated as of the effective date of this section; and (2) to that county the remainder of the allocatlon not suballocated under subdivision (dl). (e) If the governing board of the city has not adopted, by April IF 1986, a resolution indicating it viii proceed vith an eligible project, vblch resolution describes the project, gives its estimated cost, and states that the city rill be able to pay the local share either by appropriation of funds or by seeking appropriate approval for the issuance of bonds or both, that city suballocation shall immediately be transferred to the county suballocatiou for that countyl provided that the city may at an earller date adopt a resolution that it viii not proceed vith any project, in vhich case the city suballocatlon shall be transferred to the county suballocstion immediately~ or the city may adopt a reeolutlon transferring to the county any part of its subslloc~tion.