1965/66/67 session laws – Ch.74 Sec.19

Chapter VI, subchapter B of the Charter of the City of Greensboro as set forth in Section 1, Chapter 1137, Session Laws of 1959, as amended, is amended by inserting therein a new Section following Section 6.119 to read as follows: Section 6.120. Interest as a part of compensation. (a) To the amount awarded as damages through the Superior Court, the judge shall, as a part of just compensation, add interest at the rate of six per cent -6% per annum on said amount from the date of taking to the date of judgment; but interest shall not be allowed from the date of deposit on so much thereof as shall have been paid into the court as provided in this Article. (b) If the city so elects to make deposit as provided herein, the owner, owners or parties in interest may apply to the Clerk of the Superior Court for disbursement of the money deposited in the court, or any part thereof, as full compensation, or as a credit against just compensation without prejudice to further proceedings in the cause to determine just compensation. Upon such application, the clerk shall order that the money deposited be paid forthwith to the person entitled thereto in accordance with the application. The clerk shall have power to make such orders with respect to encumbrances, liens, rents, taxes, assessments, insurance and other charges, if any, as shall be just and equitable.