GREENSBORO, N.C. — How do you keep up the buildings at our state community colleges and universities without raising taxes or burdening the student population?
North Carolina's answer was bonds. In 2016, voters approved a total of $2 Billion in bonds. State Treasurer Dale Folwell is the one doling out the money.
“Of that $2 Billion approved by voters, $105 Million for the UNC Nursing and Instructional Building and $9.5 Million for Guilford Tech.”
This is money the schools didn't have to spend and the students and the community benefits. And the voters passed the bonds with a 2/3 vote.
“The reason the state was able to get the $2 Billion in bonds at such a small interest rate, 1.87% was because of our AAA bond rating. The bond rating is so high because of the security we have built up in reserves in our state. It’s wise planning.”
The latest payout to colleges was released this week, $600 Million. With that 1.87% interest rate, it save us $24.5 Million. Do you have a question or a topic you’d like the Treasurer to talk about? He joins 2WTK the second Friday of every month. Just email us, firstname.lastname@example.org.