14B N.C. Admin. Code 15A.0901

Current through Register Vol. 39, No. 12, December 1, 2024

Section 15A .0901 - BORROWING MONEY

Before a local board borrows money, it shall consider the following factors:

(1) the number of stores in a service area;

(2) the estimated population in a service area;

(3) the location of stores in a service area;

(4) the nature and amount of the outstanding debt of the local board;

(5) whether the borrowing is for the purchase of fixed assets, inventory or both;

(6) the adequacy of the accounting system used or proposed to be used by the local board;

(7) its compliance with rules of the Commission;

(8) history of operating profits; and

(9) projected profits and ability to retire the debt.

14B N.C. Admin. Code 15A .0901

Authority G.S. 18B-100; 18B-203(a)(20); 18B-207; 18B-702(r),(u);
Eff. January 1, 1982;
Amended Eff. July 1, 1992; May 1, 1984;
Transferred and Recodified from 04 NCAC 02R .0901 Eff. August 1, 2015;
Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. August 22, 2015.

Authority G.S. 18B-702(b),(e);
Eff. January 1, 1982;
Amended Eff. July 1, 1992; May 1, 1984;
Transferred and Recodified from 04 NCAC 02R .0901 Eff. August 1, 2015;
Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. August 22, 2015.