(A) The Board shall have power to grant, upon reasonable terms, franchises for public utilities. These grants shall not exceed a period of 60 years, unless renewed at the end of the period granted.
(B) The provisions of this chapter shall apply to licenses and shall not apply to franchise taxes, unless so specifically provided.
(`94 Code, § 10-4)
Statutory reference:
Authority of town relative to contracts generally, see G.S. §§ 160A-16 et seq.
Authority of town to grant utility franchises, see G.S. § 160A-319