A new memo published by the staff of the Local Government Commission (LGC) provides important reminders and guidance for banks regarding the financing of capital assets for North Carolina local governments.
Memorandum #2025-07 outlines key statutory requirements pertaining to capital financing arrangements between banks and units of local government, including additional requirements for units on the LGC’s Unit Assistance List (UAL). All banks that have entered – or are considering entering – such an arrangement with a local government in North Carolina are advised to read the memo and reach out to LGC staff with any questions or concerns.
This memo and previous memos can be viewed on the State and Local Government Finance Division website.