The Local Government Commission (LGC) today approved requests from the city of Raleigh (Wake County) to issue $221 million in bonds to support its 17-story City Hall across the street from historic Nash Square and to support other public safety buildings.
Topics Related to SLGFD News Release
The state’s Debt Affordability Advisory Committee (DAAC) voted today to approve a study that concluded the state has sufficient debt capacity to borrow nearly $2 billion in each of the next 10 years for capital projects and $155 million annually for transportation projects.
The Local Government Commission (LGC) has approved a request from the city of R
The Local Government Commission today approved a $275,670,000 financing request linked to Duke Health System’s purchase of Lake Norman Regional Medical Center, now known as Duke Health Lake Norman.
State Treasurer Brad Briner announced more transactions from NCDST which will save taxpayers a total of $160 million. Today, the Department refunded or purchased by tender older General Obligation bonds which were issued for numerous capital projects around the state.
Affordable housing remains a challenge in North Carolina, and the Local Government Commission (LGC) continues to fulfill its role in attacking the problem. Commission members approved financing requests today totaling just over $370 million for affordable housing and retirement home projects around the state.
North Carolina taxpayers will save millions of dollars as a result of old bonds — issued for numerous capital projects around the state — being refunded at a lower interest rate. This savings is thanks to the work of the State and Local Government Finance Division (SLGFD) to modernize the state’s debt processes.
State Treasurer Brad Briner announced today Moody’s has affirmed North Carolina’s Aaa rating on its outstanding general obligation bonds. The credit rating agency declared: “North Carolina is one of the strongest states according to nearly every measure.”In its rating Moody’s said: “North Carolina's Aaa issuer rating recognizes very low leverage … and an economic growth rate that continues to outperform nearly all other states in the region.”
The city of Charlotte (Mecklenburg County) will move forward with long-planned street work and neighborhood improvements after receiving Local Government Commission (LGC) approval of a $200 million request to issue a short-term bond.
Local Government Commission (LGC) members cleared the way on Sept. 9 for the state to contract for an outside, independent audit of the Winston-Salem/Forsyth County Schools. The school system has been cited for financial mismanagement and a $46 million budget deficit that led to eliminating 350 positions.