Special to IFN

RALEIGH — Representatives of the N.C. Medical Care Commission (NCMCC) appear before the Local Government Commission on Tuesday, December 2, with three funding requests totaling $675 million.

The requests include financing related to Duke University Health System’s purchase of Lake Norman Regional Medical Center, now known as Duke Health Lake Norman.

NCMCC is seeking approval of tax-exempt conduit revenue bonds, the proceeds of which can be loaned to third parties.

Duke Health purchased the assets and related businesses of Lake Norman Regional Medical Center in Mooresville on April 1. It would use proceeds of a $275,670,000 conduit revenue bond to refund interim financing and lines of credit used to make the purchase.

State Treasurer Brad Briner chairs the Local Government Commission, which is staffed by the Department of State Treasurer and has a statutory duty to approve most debt issued by units of local government and public authorities in the state. The commission examines whether the amount of money units borrow is adequate and reasonable for proposed projects and confirms the governmental units can reasonably afford to repay the debt. It also monitors the financial well-being of more than 1,100 local government units.