The Department of State Treasurer Announces Bonds Sold for Statewide Transportation Projects
The Department of State Treasurer sold $300 million of bonds today to pay for transportation projects throughout North Carolina.
The Build NC 2025 Bond Package was approved by the Council of State in March and includes projects from New Hanover to Haywood County. These projects are part of the state’s 2018 “Build NC Bond Act,” which funds N.C. Department of Transportation Division Need Projects and Regional Impact Projects. Under law, the state cannot issue more than $300 million per year for projects funded this way.
The map shows where this bond money is scheduled to be used.
The bonds were sold to BofA Securities with a true interest cost of 3.77%. They will be paid off by 2040 and will be paid through the Highway Trust Fund.
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