Local Government assignement

The Case Study Assignment

Using information obtained from NC General Statutes $159-148$ and $160$A$-20,$ read the case study scenarios and respond to the questions that follow. Please include a brief description of how you reached your conclusion$($s$)$ bv referencing the SPECIFIC NC General Statute$($s$)$ thatapply down to the subsection level. For example,.

G$.$S$.159-33($a$)(2),$ not G$.$S$.159-33$ unless it does not have sub$-$section$($s$).$ You are not required to cite the text of the General Statute that applies. B$.$ The Town of Low Point now wants to purchase a new aerial ladder truck to go in its new fire station. The ladder truck will cost $$850,000.$ The town would like to finance the purchase rather than use its fund balance of $$6,385,000.$ The fire truck vendor can also provide a $10$ year lease at $3\mathrm{.}25\%.$ Monthly payments for the next $10$ years will be $$28,233\mathrm{.}04.$ Title to the truck will be assigned to the town at the beginning of the lease, but the vendor will file a lien on the truck's title until the end of the lease. The Town of Low Point is not on the Unit Assistance List $($UAL$)$ developed by the LGC$.$ Will this vendor lease for the ladder truck need the approval by the Local Government Commission? Please reference the SPECIFIC NC General Statute$\{$s$)$ that apply down to the subsection level. For example, G$.$S$.159-33\{$a$\}(2),,$not G$.$S$.159-33$ unless it does not have sub$-$section$\{$s$\}.$ Please reference the SPECIFIC NC General Statute$($s$)$ that apply down to the subsection level. For example, G$.$S$.159-33($a$)(2),$ not G$.$S$.159-33$ unless it does not have sub$-$section$\{$s$).$ Resources

NC General Statutes