1965_session laws_723_6
CHAPTER 722 AN ACT TO AUTHORIZE THE QUALIFIED VOTERS OF THE TOWN OF NORWOOD TO DETERMINE WHETHER ALCOHOL BEVERAGE CONTROL STORES SHALL BE ESTABLISHED IN THE SAID TOWN, AND TO PRESCRIBE THE NET PROCEEDS THEREOF. The General Assembly of North Carolina do enact:
Out of net revenue, five per cent -5% and no more than ten per cent -10% may be expended for law enforcement purposes. Any officers employed by the Board of Alcohol Control shall have jurisdiction throughout Stanly County. Out of net revenue, up to five per cent -5% may be expended for Alcoholic Education as to the effects of the use of Alcoholic Beverages. Out of the net revenue remaining after the payment of all costs and operating expenses and after retaining a sufficient working capital, the Town of Norwood Board of Alcohol Control shall on a quarterly basis pay fifty per cent -50% of said revenue to the general fund of the Town of Norwood, and fifty per cent -50% of the net revenue to the general fund of Stanly County; provided, if Alcohol Control Stores are established in the City of Albemarle then net proceeds shall be divided as follows: The Town of Norwood Board of Alcohol Control shall on a quarterly basis pay over eighty-five per cent -85% of said net revenue to the general fund of the Town of Norwood and fifteen per cent -15% of the net revenue to the general fund of Stanly County.