Two years ago, Raleigh gave us the hard sell on this $2 billion ConnectNC bond package. Approving that authorized the state to borrow up to $2 billion for projects on campuses of higher-learning institutions. (As of this writing, only ten percent of that $2 billion has been authorized. That’s what they tell me over at the state treasurer’s office.)
Sounds like ConnectNC wasn’t near as crucial as we were led to believe.
And now, the current pack of honorables is talking about another $3 billion bond issue for “transportation needs” and another $2 billion for K-12 school construction. No word yet on why our obscenely-high gas tax isn’t being used to pay for these “transportation needs.”
Meanwhile, here in Moore County, we just approved a $123 million local bond package for construction projects in our K-12 system and at the local community college.
That’s $5.123 BILLION of debt. Our entire state budget is $24 billion.
There needs to be a plan in place before the borrowing happens detailing (1) how the money will be spent, and (2) how it will be paid back.