WWAY has an update on the financial health of the town of Oak Island. Some of our viewers, including Oak Island's former mayor, have raised concerns that the town is on the verge of going broke. It actually is possible for towns to go bankrupt, and in recent history it has happened to 4 towns and government entities across the state, including the South Brunswick Water and Sewer Authority, which went under back in 2003. The local government commission, a division of the State Treasurers office that takes over when towns go bankrupt, told us that Oak Island is not in danger of going broke.
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