New ED Bond Capability Sought in North Carolina

Former NC Governor Jim Hunt is campaigning again -- this time in support of a state constitutional amendment that would give local governments the power to take on debt to support economic development. The measure will appear on the Nov. 2 general election ballot.

Hunt says it will spur economic development and he has joined with former governors Jim Holshouser and Jim Martin to lobby in favor of the amendment.

The change would allow local governments to sell bonds to finance infrastructure improvements, such as water and sewer lines, in a special district designed to support private development. The increased tax values in those districts should generate enough income to pay off the project debt.

More here.