The North Carolina Memo re: Default --Revised:12/2015 is a document issued by the North Carolina Department of the Treasury outlining the state's policy regarding defaulted bonds. It provides guidance on the management of defaulted bonds, the process of making payments on them, and the procedures for dealing with delinquent accounts. The memo also sets out the state's policy on the foreclosure of defaulted bonds, the collection of defaulted bond payments, and the issuance of replacement bonds. There are two types of defaulted bonds that the memo covers: general obligation bonds and revenue bonds. General obligation bonds are backed by the full faith and credit of the state, while revenue bonds are secured by the debt service of the issuer.
North Carolina Memo re: Default --Revised:12/2015)
State:
North Carolina
Control #:
NC-SKU-0095
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PDF
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Memo re: Default --Revised:12/2015)
The North Carolina Memo re: Default --Revised:12/2015 is a document issued by the North Carolina Department of the Treasury outlining the state's policy regarding defaulted bonds. It provides guidance on the management of defaulted bonds, the process of making payments on them, and the procedures for dealing with delinquent accounts. The memo also sets out the state's policy on the foreclosure of defaulted bonds, the collection of defaulted bond payments, and the issuance of replacement bonds. There are two types of defaulted bonds that the memo covers: general obligation bonds and revenue bonds. General obligation bonds are backed by the full faith and credit of the state, while revenue bonds are secured by the debt service of the issuer.
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