Two-thirds bonds make comeback in Greensboro
What exactly are two-thirds bonds?
…as a portion of bond debt is paid off, state law enables local governments to issue bonds for up to two-thirds of the amount of the principle retired.
In other words, if Greensboro pays off $21 million in bond debt one year, council can issue $14 million in bonds the following year…
In the mid-1990s, several new council members…argued that voters should have a say in all bonds, and that doing otherwise was tantamount to undermining the will of the people.
8/22/09
Should Greensboro’s City Council borrow with “Two-Thirds Bonds” without voter approval?
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