Posts Tagged ‘local government borrowing authority’

Local Government Authority to Loan Money

Thursday, May 10th, 2012

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 […]

Two-thirds Bonds

Thursday, November 18th, 2010

On 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 […]