RALEIGH — The Local Government Commission approved more than $868.4 million in financing requests at its Aug. 5 meeting to support various public projects across North Carolina.
The largest approval was for Wake County, which received nearly $704 million in limited obligation bonds to fund the construction of a new Morrisville High School, a rebuild of Brentwood Elementary School and renovation of North Garner Middle School to accommodate growing student numbers without requiring a tax increase.
The Local Government Commission (LGC) approved $37 million in conduit revenue bonds for Pine Lake Preparatory in Mooresville to refinance bonds and fund capital projects, a move that will save approximately $690,000 annually in debt service.
Montessori School of Raleigh, also located in Wake County, was approved for $5 million to refund prior bonds.
Housing authorities in Raleigh, Wilmington and Durham received approvals for $32.5 million, $28 million, and $22.5 million, respectively, to finance low- to moderate-income multifamily housing developments.
Other large approvals included Mooresville receiving $16 million for park and library improvements, Nash County getting $11.8 million for various renovations, Morrisville receiving $10.75 million for a public works building, and Lincoln County gaining approval for $11.1 million to expand St. James Elementary School.
Other approvals granted by the LGC included:
- $260,000 to Maysville (Jones County) to replace aging vehicles and equipment
- $400,000 to Elizabeth City (Pasquotank County) for inventory water lines for lead/copper
- $500,000 to Elizabeth City (Pasquotank County) for lease maintenance equipment for parks
- $500,000 to Nags Head (Dare County) to fund septic system repair loans
- $500,000 to Cape Fear Public Utility Authority (New Hanover County) to replace lead/galvanized water service lines
- $2.7 million to Nags Head (Dare County) to build Employee Wellness Facility with seasonal housing
- $4.6 million to Zebulon (Wake County) to build a fire station and EMS station
- $7.25 million to Angier (Harnett County) to build a new police station
- $7.5 million to Pineville (Mecklenburg County) for constructing a new electric substation
The LGC also reviewed compliance issues with annual audit submissions and considered related appeals.
CAPTION: Renovations to North Garner Middle School are planned as part of the more than $700 million in bonds approved for Wake County’s schools by the Local Government Commission. (Courtesy WCPSS)
