Is a local government required to seek approval from any other governmental agency before issuing project development bonds?
Yes, if the financing development plan involves the construction and operation a new manufacturing facility, the unit must submit the plan to the Secretary of the NC Department of Environment and Natural Resources for approval. In order to approve the plan, the Secretary must determine that the manufacturing facility will not have a materially adverse effect on the environment and that the company that will operate the facility has operated its other facilities in substantial compliance with federal and state laws, regulations, and rules for the protection of the environment. Additionally, if the plan involves a new manufacturing facility, the unit must submit the plan to the NC Secretary of Commerce for certification that the average weekly manufacturing wages proposed by the initial users the facility are either above the average manufacturing wage paid in the county in which the district will be located or are not less than ten percent (10%) above the average weekly manufacturing wa
- Is a local government required to seek Local Government Commission (LGC) approval before issuing project development bonds?
- May a local government refund project development bonds with revenue bonds or general obligation bonds?
- Is a local government required to seek voter approval before issuing project development bonds?