What is the process for issuing project development bonds?
The following sets forth a rough timeline for issuing project development bonds: • Develop a project development financing plan. • Apply to the Local Government Commission (LGC) for approval to issue the project development bonds. • The LGC may accept an application for issuance of project development bonds before a project development financing plan has been adopted, but it may not approve the issuance of the bonds until after the plan is adopted and after the governing board of the unit issuing the bonds makes the findings prescribed by G.S. 159-105(b)(1) and (5). • Publish notice of the application to the LGC in a newspaper of general circulation in the unit. • Attend a preliminary conference with the LGC, if required. • If the project development district is proposed by a municipality, send notice of the proposed development financing district by first-class mail to the county or counties in which the district is located. • If the board of county commissioners does not disapprove t
Related Questions
- Is a local government required to seek approval from any other governmental agency before issuing project development bonds?
- Is a local government required to seek Local Government Commission (LGC) approval before issuing project development bonds?
- Is a local government required to seek voter approval before issuing project development bonds?
