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