No-interest Irene loan for 2 NC counties


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Submitted: Fri, 02/24/2012 - 2:43am
Updated: Fri, 02/24/2012 - 2:44am
By:

RALEIGH, N.C. (AP) – Gov. Beverly Perdue is making a no-interest
state loan available to repair two schools and other public
buildings in Tyrrell and Pamlico counties damaged during Hurricane
Irene last August.

Perdue authorized the 15-year loan from a fund set aside to pay
severance to state employees laid off last year.

County commissioners will be required to maintain flood
insurance. Perdue says flood insurance carried by the school
systems in the two counties lapsed, making them ineligible for full
assistance from the Federal Emergency Management Agency.

Hurricane Irene made landfall on the North Carolina coast as a
Category 1 hurricane in late August. Low-lying areas along Pamlico
Sound like Bayboro were flooded under a storm surge of eight to 10
feet. Bayboro’s middle school and high school were damaged.

(Copyright 2012 by The Associated Press. All Rights Reserved.)

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