§ 121-7.8. Tobacco Farm Life Museum Fund.

324 words·~1 min read·/nc/chapter-121/121-7-8

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(a)Fund. - The Tobacco Farm Life Museum Fund is created as a special, interest-bearing revenue fund in the Department of Natural and Cultural Resources. The Fund consists of all receipts derived from the lease or rental of property or facilities, disposition of structures or products of the land, donations, gifts, devises, and admissions and fees collected at the Tobacco Farm Life Museum. The Fund shall be treated as a special trust fund and may be used to pay costs associated with the operation, interpretation, development, expansion, preservation, and maintenance of the Tobacco Farm Life Museum.

(b)Fund Sources. - Notwithstanding Chapter 146 of the General Statutes, the Fund consists of

(i)all revenue derived from donations, gifts, devises, grants, admissions, and fees collected by or for the benefit of the Tobacco Farm Life Museum Fund,

(ii)the net proceeds derived from the sale of real property pursuant to G.S. 146-30(d)(17), and

(iii)interest on funds in the Fund credited by the State Treasurer pursuant to G.S. 147-69.2 and G.S. 147-69.3.

(c)Board of Directors. - The Tobacco Farm Life Museum Board of Directors, or its successor, shall advise the Secretary on expenditures from the Tobacco Farm Life Museum Fund and on the basic concepts and operations of the Tobacco Farm Life Museum.

(d)Reports. - The Department of Natural and Cultural Resources must submit to the Joint Legislative Oversight Committee on Agriculture and Natural and Economic Resources, the chairs of the House of Representatives Appropriations Committee on Agriculture and Natural and Economic Resources, the chairs of the Senate Appropriations Committee on Natural and Economic Resources, and the Fiscal Research Division by September 30 of each year a report on the Fund that includes the source and amounts of all funds credited to the Fund and the purpose and amount of all expenditures from the Fund during the prior fiscal year. (2023-134, s. 14.3(c); 2024-1, s. 4.14(a).)