It is quiz time again. Which of the following (if any) loan transactions are authorized under North Carolina general law? a. A group of citizens has formed a softball league. The local league plans to host a large softball tournament as a fundraiser to support its activities. It lacks the resources to front the costs […]
Posts Tagged ‘local government borrowing authority’
Local Government Authority to Loan Money
Thursday, May 10th, 2012Tags:local government authority to loan, local government borrowing authority
Posted in Budeting & Appropriations, Finance & Tax | No Comments »
Two-thirds Bonds
Thursday, November 18th, 2010On July 1, 2009, Carolina County had outstanding general obligation (G.O.) indebtedness of $32.2 million, revenue bond indebtedness of $7.1 million, and installment-purchase debt totaling $1.5 million. The county used its G.O. bond revenues to fund a new recreation facility and a new police department. It issued the revenue bonds to finance a major water […]
Tags:general obligation bonds, local government borrowing authority, two-thirds bonds, voter approval for debt
Posted in Borrowing Money / Issuing Debt, Constitutional Issues, Finance & Tax | No Comments »