§ 160A-845 – Reassessment of financial status.
160A-845. Reassessment of financial status. (a) After the first fiscal year of cooperation with the Commission, and every year thereafter, the council shall reassess its financial affairs with the assistance of the Commission. Upon completion of the reassessment, the Commission shall make a recommendation to the city as to whether or not the city’s financial […]
§ 160A-825 – Purpose of Article; definition.
160A-825. Purpose of Article; definition. (a) The purpose of this Article is to provide a process for a city in financial distress to transition out of that distress either on its own initiative or with assistance from or under the direction of the Local Government Commission. (b) For purposes of this Article, the following terms […]
§ 160A-831 – Initiation of process.
160A-831. Initiation of process. (a) The process established by this Article to rehabilitate a city’s financial affairs may be initiated by the Commission. The Commission shall establish criteria for evaluating a city for financial rehabilitation under this Article. (b) The Commission shall apply those criteria to each city with respect to which the Commission has […]
§ 160A-833 – Assessment of services and financial affairs.
160A-833. Assessment of services and financial affairs. (a) Upon initiation of the process under G.S. 160A-831, the city shall cooperate and provide information to the Commission to assess the city’s financial affairs. The assessment shall include a review of all of the following: (1) The revenues of the city. (2) The future revenue forecast of […]
§ 160A-841 – Local Government Commission control.
160A-841. Local Government Commission control. (a) If the Commission determines a city should be subject to this Part but the Commission has not exercised its authority under G.S. 159-181(c) after completion of the financial assessment and receipt or completion of the report required by G.S. 160A-833, the Commission may impound the books and records of […]