Form 2555 online Mecklenburg North Carolina 2024-2025

Form 2555 online Mecklenburg North Carolina: What You Should Know

A STOP will be used to plan for public improvements that are funded with state revenue and the issuance of public utility franchise rights (PUL). The STOP must be used to plan a capital improvement project which requires the issuance from the state revenue treasury of: money or revenue; land; buildings; or other property or property interests. A single project may be financed with a variety of sources such as: bonds, tax-exempt bonds or municipal securities; revenue generated by an authorized or approved local improvement fund created in accordance with Chapter 30.09 of the North Carolina Administrative Code; money, property or services from the sale of a special tax; grant money; fee revenue, fees or charges; property tax revenue derived from the imposition of an annual income or sales tax on retail sales occurring in the territory to be served by the project location; a bond issue; money or security instruments to be pledged as collateral for the proceeds from the bonds issued in accordance with Part III of this Chapter; funds or other property from which the proceeds of any bond issue would be used or from which the proceeds from the issuance of bonds under this chapter would be derived; or a property-exchange agreement or an agreement providing for the exchange of property for revenue, as long as the project has been proposed and will cost less than one-half the value of the property that is exchanged, and the project can be completed within three years of the date of the application, without the necessity of further appropriation by the General Assembly.  In North Carolina, the STOP must be placed on the State budget. The STOP must be signed and the resolution must be approved by either the House or the Senate. The STOP must be made available to the public within a reasonable period of time after the adoption of this Act except where otherwise provided by law. The Governor may order the STOP published or posted on the Department of Highway and Transportation website. The STOP may be used by agencies and instrumentalities of local government, municipalities, or school boards to plan for improvements to and the acquisition by them of land or other tangible personal property and by any other person with a valid permit to do so. The Department of Transportation shall provide written approval of the site plan and/or map to those persons subject to the requirements and procedures contained in this subtitle.

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