NC Native Authorities Fee Tables Guilford County College Bond Approval – The Rhino Occasions of Greensboro – The Rhino TImes
Guilford County’s plan to tackle an extra $1.7 billion in debt hit a bump within the highway on the North Carolina Native Authorities Fee (LGC) assembly on Thursday, Sept. 22.
Fairly than approving the $1.7 billion in class bonds handed by the voters of Guilford County within the Could 26 major election, the LGC tabled the merchandise and requested for extra info.
The LGC, chaired by NC State Treasurer Dale Folwell, should approve the issuance of debt by native governments. It’s the duty of the LGC to find out if “the quantity being borrowed is ample and cheap for the tasks and is an quantity the unit can fairly afford to repay,” in response to the LGC web site.
The press launch from the North Carolina Division of the State Treasurer states, “Nonetheless, LGC members had questions in regards to the county taking up extra debt, how it will be paid again and whether or not falling faculty enrollment tendencies justify the necessity. A $300 million bond bundle was accepted in 2020. Whereas voters accepted the $1.7 billion in bonds in Could, they rejected a referendum to boost gross sales taxes to pay for it. The county plans to make use of property taxes as an alternative. College officers stated colleges in some areas are overcrowded and are badly deteriorating. In tabling the matter, the fee directed county officers to reply in 10 days with enrollment numbers.”
The press launch notes that the $1.7 billion is deliberate for use “to construct three new colleges, demolish and rebuild 19 colleges, absolutely renovate 12 colleges and make investments about $363 million in security and expertise upgrades. No tax enhance is predicted. The varsity system now has 126 colleges and greater than 300 buildings.”
Guilford County Colleges enrollment dropped from 73,407 in 2015 to 69,580 in 2021. Enrollment figures are based mostly on the twentieth day enrollment.
Greensboro Metropolis Councilmember Nancy Hoffmann is a member of the LGC however didn’t attend the Sept. 22 assembly.