Local Government Commission Meeting - 11/04/2025
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Topics Related to SLGFD News Release
State Treasurer Dale R. Folwell, CPA, through the State and Local Government Finance Division, announced today the issuance of approximately $106 million of general obligation refunding bonds. The bonds were issued and sold to take advantage of lower interest rates, thus reducing interest costs for taxpayers. The bonds were purchased by Citigroup Global Markets, Inc.
Total Interest Savings from Bond Refunding Almost $100 million
Treasurer Expects Savings to go Toward Solvency Reserve Fund
State Treasurer Dale R. Folwell, CPA said today the proposed Build NC Bond Act should be put on the ballot for a public vote. The proposed draft, if passed by the North Carolina General Assembly in its current form, would allow the N.C. Department of Transportation to issue special indebtedness bonds of up to $3 billion over ten years for transportation projects.
State Treasurer Dale R. Folwell, CPA announced today that all three major national bond rating agencies have re-affirmed the state's “AAA" bond rating, noting the state's strong economy, growing reserves and conservative fiscal management. North Carolina is one of only 13 states that have an “AAA" rating from all major rating agencies.
State Treasurer Dale R. Folwell, CPA, through the State and Local Government Finance Division, announced today the issuance of approximately $400 million of voter-approved General Obligation Public Improvement (Connect NC) Bonds. The sale is the second of $2 billion approved in 2016 for universities, community colleges, local parks, infrastructure improvement and other projects.
State Treasurer Dale R. Folwell, CPA, announced today the results of the 2019 Debt Affordability Advisory Committee Study, advising the governor and General Assembly on the estimated debt capacity of the General and Transportation Funds for the upcoming 10 fiscal years.
State Treasurer Dale R. Folwell, CPA, announced today the awarding of $600 million in Grant Anticipation Revenue Vehicle Bonds (GARVEE bonds). GARVEE bonds are revenue bonds that allow the state to pledge future federal highway funds to pay debt service. The funds will be used to accelerate construction on a variety N.C. Department of Transportation projects.