NC H520

Allows property owners in Iredell County outside the Town of Troutman's boundaries and extraterritorial jurisdiction to petition for voluntary annexation, even if their property is not contiguous to the town.

Requires annexation petitions to include owner names, metes and bounds property description, and signatures from all property owners in the area or subdivision being annexed.

Mandates Town of Troutman governing body hold two public hearings at least 20 days apart with newspaper notice, and determine the annexation serves public health, safety, and welfare and that the town can provide equivalent services.

Requires approval from the Iredell County Board of Commissioners before any annexation becomes effective, with the ordinance becoming effective no sooner than 90 days after final passage.

Newly annexed areas become subject to town debts, laws, ordinances, regulations, and taxes beginning the fiscal year after annexation takes effect.