The next round of interest-free Cashflow Loans is ready to be distributed to local governments in need. This will be the third installment of loans disbursed as a way to help communities who are already hard at work recovering from Hurricane Helene.
Topics Related to SLGFD News Release
New State and Local Government Finan
The Department of State Treasurer (DST) has notified local governments of their second round of interest-free loans for Hurricane Helene relief. This round of Cashflow Loans uses the remaining $34.4M provided by the legislature in the Disaster Recovery Act of 2024.
Orange County’s plan to use $378 million in bonds for school improvements and expansions at outdated schools took a l
Denise Canada has been hired as the Director of the State and Local Government Finance Division and Secretary of the Local Government Commission, State Treasurer Brad Briner announced today. “Denise’s unique background and deep understanding of issues facing both state and local governments will be invaluable as we serve the more than 1,100 units of local government in North Carolina,” said Treasurer Briner. “Denise is the right person to lead this division and I am excited for her to join the team.”
Local governments impacted by Hurricane Helene can apply to the Department of State Treasurer (DST) for cashflow loans as Round 2 of the program prepares to launch. Round 1 resulted in more than $47.5 million being distributed, leaving an estimated $50 million still available.
Duke University Health System (Durham) is in line to receive more than a half-billion dollars in financing after the Local Government Commission (LGC) approved bond issues in that amount at the LGC’s Tuesday, May 6, meeting.
The Department of State Treasurer sold $442 million of bonds today to pay for transportation projects in Wake and Johnston counties and to refund certain previous bonds.
The Department of State Treasurer sold $300 million of bonds today to pay for transportation projects throughout North Carolina.The Build NC 2025 Bond Package was approved by the Council of State in March and includes projects from New Hanover to Haywood County. These projects are part of the state’s 2018 “Build NC Bond Act,” which funds N.C. Department of Transportation Division Need Projects and Regional Impact Projects. Under law, the state cannot issue more than $300 million per year for projects funded this way.
State Treasurer Brad Briner announced today S&P Ratings has affirmed North Carolina’s AAA ratings on its outstanding general obligation bonds. This is the second AAA bond rating announced in the past week- with Moody’s assigning the same rating last Wednesday.There were also high ratings for two upcoming transportation bonds. The Limited Obligation (BuildNC) Bonds with a proposed amount of $300 million have an AA+ rating. The Grant Anticipation Revenue Vehicle Bonds for $475 million is rated at AA.