Debt study says NC can issue more bonds than a year ago

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Submitted: Mon, 02/02/2015 - 9:19pm
Updated: Mon, 02/02/2015 - 9:22pm

Associated Press

RALEIGH, NC (AP) — An annual report evaluating North Carolina’s debt and how much more borrowing the state can truly afford is good news for Gov. Pat McCrory and legislative leaders considering road and building projects.

The 2015 Debt Affordability Study released Monday by State Treasurer Janet Cowell says state government has more capacity than last year to issue bonds that would be repaid by both general tax revenues and transportation taxes and fees.

The report estimates officials could approve almost $700 million in additional debt annually for the foreseeable future and the state would remain within self-imposed fiscal limits. The transportation debt capacity could rise by $225 million a year.

McCrory has said he will propose a transportation bond, and there’s talk of another package for government infrastructure.

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