State panel considers financing for Rocky Mount firehouse

RALEIGH — Members of the North Carolina Local Government Commission considered the development of a new Nash County fire station on June 4, voting to place the project on July’s agenda for complete consideration.

The LGC also approved the following requests:

• Orange County for $13 million in limited obligation bonds for county vehicles, school building maintenance, stormwater improvements and other projects.

• City of Concord (Cabarrus County) for limited obligation bonds totaling $12.5 million for the costs of constructing, equipping and furnishing a fire station and police substation located at the city’s airport.

• Shelby (Cleveland County) for $10 million in conduit revenue bonds to be used to finance the rehabilitation and equipping of a 100-unit, low-and moderate-income, multifamily rental housing development known as Laurel Hill Apartments.

• Winterville (Pitt County) for $7.3 million State Revolving Fund loan for sewer pump station rehabilitation.

• Town of Clayton (Johnston County) for $6 million in revenue bonds to fund or reimburse the costs of electric system improvements.

• City of Jacksonville (Onslow County) for revenue bonds for water/sewer funding in the amount of $4.1 million.

• New Bern (Craven County) for a $2.2 million installment purchase contract to purchase an existing building, and for renovations/uplifts to that building for use as the Electric Operations Building.

• Asheville (Buncombe County) for a $598,650 State Revolving Fund loan to inspect water lines in the Shiloh community and build an inventory for future replacement. About 30% of 246 unknown service lines are suspected to be lead.

• Wallace (Duplin and Pender counties) for a $574,614 State Revolving Fund loan to inspect and repair aging sewer lines and rehabilitate 52 manholes.

• The town of Star (Montgomery County) for revenue bonds totaling $465,000 to fund long-term plans to supply water and sewer services.

• City of Brevard (Transylvania County) for an additional $233,085 to complete the demolition and replacement of a 1 million-gallon water tank.

Chaired by State Treasurer Dale R. Folwell, CPA, and staffed by the Department of State Treasurer, the LGC considers applications for most debt issued by units of local government and public authorities in the state, determining whether the amount of money borrowed is adequate and reasonable for proposed projects and confirms the governmental units can reasonably afford to repay the debt.

The post State panel considers financing for Rocky Mount firehouse first appeared on Restoration NewsMedia .