North Carolina’s Council of State has unanimously approved a resolution to sell $200 million in general obligation bonds. This will be the first in a series of bonds over the next seven years and part of the $2 billion Connect NC bond initiative approved by voters in November.
Among the projects slated to receive funds from the first $200 million bond issuance are:
- $78.8 million for the North Carolina Community College System. The Community College board has so far approved projects at 20 colleges;
- $28.5 million for a health sciences building at Appalachian State University;
- $9 million for an engineering building at North Carolina State A&T University;
- $8.4 million for an engineering building at N.C. State University’s Centennial Campus;
- $6.1 million for a sciences building at UNC-Charlotte;
- $5.8 million for the North Carolina School of Science and Mathematics for its School of Technology and Engineering
- $4.98 million for a sciences and STEM building at Western Carolina University;
- 4.1 million for the Samarcand Training Academy for the Department of Public Safety; and
- $4 million for an agricultural research facility for the Department of Agriculture and Consumer Services
According to the authorization approved by the council, final maturity of the bonds must not exceed 40 years after the date of issuance, and the fixed-rate interest rate must be capped at six percent per annum.
The new College of Health Sciences building for Appalachian State University in Boone will broaden students’ educational experience as well as the college’s reach into underserved Western North Carolina counties, the college dean has been quoted as saying in North Carolina Health News.
Image: Rendering of the new ASU health sciences building.