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Local Government Authority to Loan Money

May 10, 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 … Read more

Two-thirds Bonds

November 18, 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 … Read more