1. (a) Applications shall be filed on forms designated by the Secretary for this purpose.
2. (b) The governmental unit shall submit all documents relating to the application which are requested by the Secretary.

3. (c) The Commission may consider the following factors:

   1. (1) the necessity and expediency for issuance of the notes;
   2. (2) the reasonableness of budget estimates of taxes and other revenues;
   3. (3) the adequacy of the budget, including funding of prior year's deficits;
   4. (4) the availability of cash resources other than tax revenues, including redemption of unmatured investments;
   5. (5) the ratio of uncollected taxes to the amount of the levy;
   6. (6) the percentage of collection of taxes for prior years;
   7. (7) the unit's tax collection procedures;
   8. (8) the ability of the unit to appropriate funds to pay for costs and interest due on the tax anticipation notes;
   9. (9) the adequacy of the unit's accounting and internal control system;
   10. (10) any other information the Commission considers to be applicable to the circumstances.

History Note: Authority G.S. 159‑3(f);
Eff. February 1, 1976;
Readopted Eff. September 23, 1977;
Amended Eff. April 1, 1985;
Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. January 9, 2018.