The N.C. Local Government Commission (LGC) will consider approval of more than $1 billion in financing applications when it meets on Tuesday, June 1. The bulk of that is being requested by the cities of Charlotte and Raleigh, and Forsyth, Hoke, Moore and Orange counties.
The LGC, chaired by State Treasurer Dale R. Folwell, CPA, and staffed by Department of State Treasurer personnel, will review Moore County’s application seeking $71 million in limited obligation bonds to acquire, build and equip a new county courthouse, county offices and other support facilities. The request also refunds prior loans at a savings of $1.1 million.
In a separate request, Moore County submitted an application for a $3.1 million bond for the East Moore Water District.
Hoke County is also asking approval for $50 million in limited obligation bonds to build the James E. Leach Aquatic and Recreation Center, two basketball courts, ball fields and Parks and Recreation Department office space. The facility will serve as the county’s emergency services shelter. Some of the money would be used to refund prior financing at a savings of more than $4.2 million.
Orange County is asking for approval of $28 million in limited obligation bonds for equipment and school projects and to refund previous financing at a savings of about $374,267.
Charlotte wants to obtain $250 million in bond anticipation notes to pay for capital improvement projects on the city’s aging water and sewer systems. And it seeks to take advantage of lower interest rates and reap savings of nearly $9.6 million by refunding $200 million that was previously issued for the city’s transit system.
The City of Charlotte Housing Authority, now known as INLIVIAN, is seeking $9 million in bonds as part of a $15.9 million package to build 80 one- and two-bedroom units on land leased from Park Ministries northwest of the downtown area.
Raleigh is seeking $200 million in bonds to improve water and sewer systems under the city’s Capital Improvement Program. The Raleigh Housing Authority is seeking $18 million to loan to Primavera Seniors to build 164 one- and two-bedroom apartments for low-income residents in two residential buildings.
Forsyth County wants to obtain $160 million in limited obligation bonds to acquire, build and equip a new county courthouse and a new children’s museum, to renovate and expand Smith Reynolds Airport facilities and to refund existing bonds at a savings of $2.8 million.