What is the Local Government Commission?

bniolet — Wed, 16 Jan 2008 11:45:37 -0500

Answer:

A panel created to approve all public debt and ensure that North Carolina cities and towns don't borrow themselves into bankruptcy.

The commission was created in the Great Depression, when the state's municipalities were overloaded with debt. The idea, according to public policy experts, was that the commission would simply review the numbers. It's staff could give expert advice, but ultimately it was up to the local authorities to decide whether they wanted to undertake a project.

Officials have said the commission gives the state a unique advantage and better rates on the bond market where cities and towns borrow money.

The commission is part of the department of the state treasurer.

The panel has nine members. Four serve by virtue of their elected office. They are the treasurer, the secretary of revenue, the secretary of state and the state auditor.

Three are appointed by the governor. One is appointed by the senate leader and another by the speaker of the house.

The commission, which normally operates quietly with little attention, was drawn into the 2008 race for governor. At issue was how the commission defined its role in approving "tax increment financing" deals.

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What is the Local Government Commission?