Gov. Pat McCrory’s administration wants the legislature to schedule a special election this November to let voters decide on a pair of proposals to borrow up to $2.8 billion to build new roads and renovate or replace state government buildings.
Transportation Secretary Tony Tata told the N.C. Chamber on Thursday that the bonds likely will be on a statewide referendum ballot Nov. 3.
If legislators agree, the proposals to borrow money for state construction needs would be decided in a low-turnout election, when the bonds would be the only item on the ballot for many voters. ……
McCrory unveiled the two bond proposals during his State of the State address in February. He wants the state to borrow $1.2 billion to $1.4 billion for transportation projects, and an additional $1.2 billion to $1.4 billion for state government buildings.
The $1.2 to $1.4 billion in new debt for roads would be in addition to the gas tax bill that effectively will raise gas taxes by $400 million over the next couple of years.
Leave a Comment