NC Senate wants to borrow $451 million


The Senate Finance Committee is scheduled to meet on Wednesday to consider a $451 million debt package that would be repaid over 20 years. More than half the funds would pay to complete buildings to expand the engineering schools at North Carolina State University and North Carolina A&T.

The borrowing package wouldn't require statewide voter approval and at the same time move the state beyond a self-imposed debt limit calculated by a state panel.

Some lawmakers believe the state already has borrowed too much money. It's already paying more than $600 million annually on debt service.

Send pictures | Classifieds | Report A Typo |  Send Tip |  Get Alerts
Most Popular  |  Follow abc11 on Twitter  |  abc11 on Facebook

Copyright © 2024 WTVD-TV. All Rights Reserved.