North Carolina House gives preliminary OK to debt proposal

By GARY D. ROBERTSON

Associated Press

RALEIGH, NC (AP) — A nearly $3 billion bond package that would go to North Carolina citizens this fall has received tentative House approval.

The measure backed Wednesday in a 79-30 vote would borrow essentially the same amount of money Gov. Pat McCrory wants to borrow for roads and government infrastructure. The House shifts more proceeds to building projects such as K-12 schools and higher education campuses.

Any debt would have to be approved by voters as well. Like McCrory wants, House Republicans would hold the referendum in November.

Rep. Dean Arp of Monroe called the proposal a wise financial plan and a good time to borrow at low interest rates. Some legislators averse to debt voted no, while others say the plan was moving too quickly.

A final House vote is expected Thursday.

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