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Old 10-03-2013, 11:35 AM
 
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I seem to remember a town that was created in the 70's with much fanfare and quickly went bankrupt. Does anyone remember the name of that town? Thanks
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Old 10-03-2013, 02:02 PM
 
Location: NC High Country
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It may not be the town you're thinking of - dates don't match your question - but the State Treasurer's Office has had to take control of the books in Princeville twice - 1997 and 2012. Princeville was founded after the Civil War by freed slaves. The town was devastated by Hurricane Floyd in 1997.

Wikipedia says that the state has had to step in to help local municipalities 5 times since the 1930's, but it doesn't say which towns were the other 3 cases.
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Old 10-03-2013, 02:47 PM
 
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Perhaps you're thinking of Soul City in Warren County? It was established as a model urban development project for African Americans, but it ultimately failed amid financial problems.
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Old 10-03-2013, 03:22 PM
 
Location: NC High Country
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Quote:
Originally Posted by arbyunc View Post
Perhaps you're thinking of Soul City in Warren County? It was established as a model urban development project for African Americans, but it ultimately failed amid financial problems.
Bingo!
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Old 10-03-2013, 05:30 PM
 
Location: Inactive Account
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Stokesdale, a small town in the northwest corner of Guilford county, went bankrupt in the 1930s. The NC Legislature revoked the town charter in 1971. It was re-incorporated in 1989.
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Old 10-03-2013, 06:24 PM
 
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Yep Soul City was it, thanks.
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