Has North Carolina’s state government been borrowing without permission?

N.C. borrowing money without asking

 

According to a debt study by the state treasurer's office, North Carolina did not issue debt without voter approval until 2001.

 

…an increasing number of state legislators and observers on the political left and right say that voters should be looking [suspiciously] at the state running up its borrowing without seeking permission.

 

Borrowing not approved by voters is more expensive because it's considered slightly more of a risk…The differences can amount to millions of dollars over the life of the loan.

 

…legislators' willingness to borrow without voter approval is growing.

 

Legislative leaders inserted…two-third bonds, a way that government can recycle debt previously approved by voters that has been repaid.

 

It is the first time in decades, if ever, such authority has been used by the state.

 

Mark Binker

Greensboro News and Record