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AG19860915
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AG19860915
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Last modified
3/28/2003 9:14:04 AM
Creation date
11/27/2017 12:10:58 PM
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Template:
Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
9/15/1986
Board
Board of Commissioners
Meeting Type
Regular
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-LOCAL GOVERNMENT COMMISSION <br /> 3Z5 North Salisbu~, Street <br /> Raleigh. North Carolina 17611 <br /> <br /> Telephone (919) 733-3064 <br /> <br /> GENERAL INSTRUCTIONS FOR FILING APPLICATION <br /> FOR APPROVAL OF ISSUANCE OF GENERAL OBLalGATION BONDS <br /> <br /> ENCLOSURES <br /> <br /> LGC-107 List of Documents to be f/led with the Local Government Commi.~ion <br /> LGC.-108 Application for Approval of I~uance of General Obligation Bonds <br /> LGC-108A Selected F/scat Informetion as Certified by the Finance Officer <br /> LGC-10SB Capital Budget and Related Information <br /> LGC-108C Projection Of Water and Sewer Net Revenues (included only ii proposed bon~ are for <br /> water or sewer purposes). <br /> LGC-108DProjection of Enterprise Net Revenue (included only If propose~ bonds are for enter- <br /> prises other than water and sewer). <br /> LGC-109Preliminary Statement of Debt. <br /> <br /> GENERAL <br /> <br /> The Local Government Bond Act (Article 4 of Chapter 159 of the General Statutes) states those purposes <br /> for which general obligation bonds ma!,, be issued and sets forth procedures to be followed in authorizing <br /> and issuing bonds. Employment of'bond coun.~l is ~eeessaflrso-thit bofids or bend anticipation notes <br /> be marketed; Bond Cauosel wiU pre-/de clra~ oLthe_varlons~otices~bond:order ~nd other pm~eedingr~ .... : .. <br /> andfurn~sh~idendsirt~be~wed~th¥di~gh~ut~thgpr~edin~-TbeJ~stnfd6~uinents~LGC~7)t~ v: · <br /> be f/led with the Local Cocernmefit Commission se~_~orth lhe.prinblpal steps toke.tab, eh i~ authorizing <br /> and issuing bonds an.d_.can b~__ .u.~d_ i~!_-dev_e!oplng/~caJ_e.nd~Li_n._con~idnc.t_ip_n~{th bond counsel. <br /> <br /> APPLICATION : . <br /> <br />The "Application for Approval of the l~uance of General Obligation Bonds" must be f/led with and ac- <br />cepted for submission to the Local Government Commhs/on prior to or at the same time the bond order <br />intreducecl by the governing body. If voter approval of the bonds is required, ten days most elapse after <br />publication of the Notice of Intent to file an application before the Commission may acknowledge t/ling of <br />the application. In ex'/dence of the publication of Notice of Intent, a publisher's ~ffidavit w/th clipping <br />required. On]y one copy of the application and its attachments/s required to be fried w/th the Commhsion. <br /> <br />PRE-FILING OR PRELIMINARY CONFERENCE <br /> <br />The Secretary of the Commission ma~.- require the ~os'ernin~ bnds, or its representative to a lend a <br />p~e]imina~v conference to cons der the proposed ~onc~issue. This/s ~ot~necessary in all cas'es; however,' <br />~fe pnv of Ibc prot:eedin~ are begun or the application filed_ a determination should be made a~ ~9 <br />lYhe.ther a conference is rec~ulred. A conference is ose[ul both to the unil of government and to the Commis- <br />sion to resolve questions that might arbe at a later date and could delay or prevont the authorization or saJe <br />of the bonds. <br /> <br />RESOLUTION OF GOVERNING BODY <br /> <br />The govcrning body should adopt a resolution making nece~ary [indin~ relating to proposed bonds, <br />auihorizing filing of the application with the Commission and designating authorized represenlative. This <br />resolution is not required b)' the Local Government Bond Ac! and such ~esolutlon draft w/il not be fur- <br />nishcd by the unit's bond counsel. While not required, the Commission feels that Itling of the application <br />shvuld take place as a result of deliberation and action of the guve~nlng body. The resolution w/il supple- <br /> <br /> <br />
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