(Raleigh, N.C.) – Forsyth, Moore and Hoke counties have received approval from the Local Government Commission (LGC) to obtain a combined $281 million in financing to build government buildings, and to erect and upgrade other facilities.
The action was part of more than $1 billion in financing approved June 1 by the LGC, chaired by State Treasurer Dale R. Folwell, CPA, and staffed by Department of State Treasurer personnel.
Forsyth County received approval for $160 million in limited obligation bonds to acquire, build and equip a new county courthouse. The six-story, 250,000-square-foot building will be about 50% larger than the existing structure, and house 18 courtrooms, four more than currently available. The financing also will pay for 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.
Moore County got the go-ahead for $71 million in limited obligation bonds to acquire, build and equip a new, multi-story county courthouse in Carthage that will contain courtrooms for District and Superior courts, and to renovate the existing courthouse. Construction of county offices and other support facilities are included, and prior loans will be refunded at a savings of $1.1 million.
Hoke County won approval to obtain $50 million in limited obligation bonds to build the 53,000-square-foot James E. Leach Aquatic and Recreation Center, two basketball courts, ball fields and Parks and Recreation Department office space on U.S. 401 in East Hoke. 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.
The LGC also approved Orange County’s application to pursue $28 million in limited obligation bonds for equipment and school projects, and to refund previous financing at a savings of about $374,267.
The bulk of the money in the financing applications on the agenda was approved for Charlotte and Raleigh.
Charlotte was cleared 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 will take advantage of lower interest rates to 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, was approved to seek $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 was given the green light for its request to obtain $200 million in bonds to improve water and sewer systems under the city’s Capital Improvement Program. The Raleigh Housing Authority gained approval for $18 million to loan to Primavera Seniors to build 164 one- and two-bedroom apartments for low-income residents in two residential buildings.
Other financing and refunding applications, and the amounts approved, were submitted by:
Gastonia (Gaston County), $14 million; Hickory (Catawba County), $10.6 million; Fayetteville Public Works (Cumberland County), $10 million; Halifax County, $5.9 million; Johnston County, $4.5 million; Sanford (Lee County), $4 million; Sampson County, $3.1 million; East Moore Water District (Moore County), $3.1 million; Beaufort County, $2.6 million; Harrisburg (Cabarrus County), $2.1 million; Granville County, $1.8 million; Rolesville (Wake County), $1.6 million; Winterville (Pitt County), $1.4 million; Sharpsburg (Edgecombe, Nash and Wilson counties), $951,234; Brevard (Transylvania County), $271,129 and $714,512; Wadesboro (Anson County), $706,000; Newton (Catawba County), $514,821; Fountain (Pitt County), $496,000;
The LGC held an information-only segment involving the Bald Head Island Transportation Authority in an ongoing process to address members’ questions regarding the proposed financing of the island’s ferry system and other facilities.