State Treasurer Dale Folwell said $700 million in bonds would be available to transportation projects. | Photo Courtesy of North Carolina Department of State Treasurer
State Treasurer Dale Folwell said $700 million in bonds would be available to transportation projects. | Photo Courtesy of North Carolina Department of State Treasurer
The State and Local Government Finance Division (SLGFD) will issue $700 million in Build NC bonds by October's end, State Treasurer Dale Folwell said.
"I'm pleased to announce that the MOA has been signed so we're able to move forward with the additional Build NC bond sale later this month," Folwell said in the October news release. "We're getting what we believe to be accurate information from [state Department of Transportation]. The hardworking men and women at DOT and the hundreds of contractors across the state need sustainable and consistent funding to address current and future road-building and repair needs of North Carolinians."
The division issued $300 million in June 2019 and has distributed more than $2.8 billion in general obligation bonds, the Treasurer's release said.
"For over two years, we've asked for three basic things: Cash flow, revenue and some plan to address the recent concerns raised by State Auditor Wood," Folwell said in the release. "The citizens of this state, taxpayers and road builders deserve to have a stable, transparent and accountable Department of Transportation. You can't borrow your way out of a problem."
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