Authorizes the City of Eden to enter into an annexation agreement with Duke Energy for payments in lieu of taxes.
This bill authorizes the City of Eden to enter into an annexation agreement with Duke Energy for payments in lieu of taxes. The City of Eden may accept payments in the amount of one million dollars ($1,000,000), made by Duke Energy in annual payments of two hundred thousand dollars ($200,000) for five successive and consecutive calendar years. The agreement applies to the Dan River Plant Property, described in the bill.
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