The Debt Management Section issues and monitors all local government debt and helps to determine the amounts to be sold. Bond sales are scheduled at the most appropriate time for marketing.
Plans for repayment of debt (maturity schedules), and bond offering documents are prepared with advice and assistance of bond counsel, and the actual sales and delivery of bonds on behalf of local governments are conducted by the Debt Management Section.
Another responsibility of the Debt Management Section is the authorization and sale of revenue bonds for:
- The North Carolina Medical Care Commission
- The North Carolina Municipal Power Agencies
- The North Carolina Capital Facilities Finance Agency
- The North Carolina Housing Finance Agency
- The North Carolina Solid Waste Management Capital Projects Financing Agency
These entities carry out functions that are vital to the citizens of the State which could not be provided at adequate levels without issuing debt.
Authorizations for revenue bonds are given on the basis of feasibility studies in order to provide the lender with greater assurance that these bonds will be repaid. The outstanding record of debt repayment by these entities assures them of the lowest possible borrowing costs.
Prior to the approval, sale, and delivery of all North Carolina local government general obligation bonds and notes and other forms of debt financing, consultation and assistance is provided to local units in determining the necessity of the project, the size of the issue, and the most expedient form of financing.
After bonds have been sold, debt records of principal and interest payments coming due in current and future years are maintained for all local governments and are monitored through a system of monthly reports.