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A RESOLUTION LEVYING A ONE PER CENT (1%) LOCAL SALES <br /> AND USE TAX AND PRESCRIBING THE METHOD OF DISTRIBU- <br /> TION OF TI-IE NET PROCEEDS WITHIN CABARRUS COUNTY <br /> <br /> WHEREAS, a public hearing on the question of levying a one <br />per cent (1%) localsales and use tax in Cabarrus County was held on June <br />21, 1971; and <br /> <br /> WI-IEREAS, all interested citizens were given an opportunity <br />to present their views for and against the levy of said sales tax in Cabar- <br />rus County; and <br /> <br /> WI-]]gREAS, the Board of CommissiOners of Cabarrus County <br />is now of the opinion and does hereby find and declare that the levy of said <br />sales tax within Cabarrus County is both desirable and necessary to ade- <br />quately finance the operation of the County and the cities and towns herein; <br /> <br /> NOW~ TI-IEREFORE~ BE IT RESOLVED by the Board of County <br />Commissioners of Cabarrus County as follows: <br /> <br /> Section 1: There is hereby imposed and levied within Cabarrus <br />County the one per cent (1%) local sales and use tax authorized by Chapter <br />77 of the 1971 Session Laws of North Carolina codified as ~rticle 39, Sub- <br />chapter VIII, Chapter 105, of the General Statutes of North Carolina. The <br />tax hereby imposed and levied shall apply to the same extent and be subject <br />to ~he same limitations as are set forth in Sections 467 and 468 of Chapter <br />105 of the General Statutes of North Carolina contained in Chapter 77 of the <br />1971 Session Laws. <br /> <br /> Section 2: Collection of the tax by the North Carolina Commis- <br />sioner of Revenue, and liability therefor, shall begin and continue on and <br />after the first day of August, 1971. <br /> <br /> Section 3: The net proceeds of the tax levied herein shall be <br />distributed by the Commissioner of Revenue to Cabarrus County and <br />to each municipality herein in proportion to the total amount of ad valorem <br />taxes levied by each on property having a tax situs within Cabarrus County <br />during the fiscal year next preceding such distribution, as provided in <br />Section 472 (b) of Chapter 105 of the General Statutes of North Carolina <br />as written in Chapter 77 of the 1971 Session Laws; the portion thereof <br />distributable to Cabarrus County to be shared with the districts in behalf <br /> <br /> <br />