North Carolina House Looks at Speedier Transportation Debt

DeSue, Tedra
April 2003
Bond Buyer;4/22/2003, Vol. 344 Issue 31619, p4
Trade Publication
The transportation committee for the North Carolina House is discussing a bill on April 22, 2003 that would move forward the sale of $700 million of general obligation bonds that were authorized by voters in 1996. Concerns have been raised over the past few months that some projects that were not intended in the original bill authorizing the debt have made it onto the list. Wayne Stallings, the chief financial officer for the state's Department of Transportation, said officials could start selling the remaining debt as early as September or as late as January. Transportation officials began spending down the cash on projects outlined in a 1989 transportation plan, which mainly entailed maintaining and preserving existing roads, not building new ones.


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