SECTION .0400 ‑ APPROVAL OF APPLICATION
20 NCAC 09 .0401 REQUESTS FOR ACTION
(a) All requests for action shall be addressed to the
Secretary‑treasurer at the mailing address of the agency.
(b) Each request for action shall include the following information:
(1) cover letter which includes:
(A) name and address of the institution of higher
(B) brief description of circumstances and action
(C) statutory basis for request and for action;
(2) detailed description of circumstances and
reasons for which action is requested;
(3) list of all persons (real and corporate)
who may be beneficially or adversely affected by any action of the agency; and
(4) such other applicable material and
information as requested by the Secretary‑treasurer.
(c) After receipt of a request, the Secretary‑treasurer
shall review the case. The Secretary‑treasurer may require the
petitioner to attend an informal conference with the staff of the agency. The
Secretary‑treasurer may require the filing of such additional information
as he may consider valuable to the consideration of the issues. The Secretary‑treasurer
may invite the staff of the Local Government Commission to the preliminary
informal conference to discuss financing of the project.
(d) At a preliminary informal conference the following
matters may be discussed:
(1) the nature and feasibility of the proposed
(2) the need for the project;
(3) the feasibility of financing the project;
(4) the institution's debt management policies
(5) the financial strengths and capabilities of
(6) any other matters relating to the
institution, to the proposed project, or to the proposed financing or lease;
(7) the procedures for application of approval
to be used in that case; and
(8) future requirements to finance the project
including requirements inherent in the method of financing proposed, such as
the costs and need for experts, and the special requirements of those experts.
(e) The governing body of the institution shall adopt and
file with the agency a resolution authorizing filing of the application to the
(f) The institution shall submit to the agency as a part of
the application for approval all documents requested by the Secretary‑treasurer.
(g) At any time after the acceptance of the application,
the application may be considered by the agency together with all applicable
data available to the agency. The agency shall use the factors set forth in
the Higher Educational Facilities Finance Act and any other factors which in
its opinion are applicable to the circumstances under consideration.
(h) The amount approved shall be considered the maximum
amount of debt to be incurred.
(i) The Secretary‑treasurer shall promptly provide a
copy of the final decision to the applicant.
(j) The Secretary‑treasurer shall promptly provide a
copy of any decision of the Local Government Commission relevant to the project
to the applicant.
(k) The agency may hold a public hearing on the
History Note: Filed as a Temporary Adoption Eff. September 30, 1987, for a Period of 153 Days to Expire on March 1, 1988;
Authority G.S. 159D-41;
Eff. March 1, 1988.