The Department of State Treasurer of North Carolina announced the sale of $300 million in bonds, a move that clearly aims to fuel transportation projects stretching from coast to mountains. According to reports from the Department of State Treasurer's official news release, these bonds are part and parcel of the Build NC 2025 Bond Package greenlit by the Council of State in March, conceived under the umbrella of the 2018 "Build NC Bond Act." This legislation delineates that the state may not exceed a $300 million bond issuance per annum for such transportation endeavors.
This fiscal initiative is not only about connecting A to B but is set to meticulously allocate funds to a variety of Division Need Projects and Regional Impact Projects. The Department of State Treasurer took pains to underline that these bonds were snapped up by BofA Securities, who placed a bet on the state with a true interest cost of 3.77%. The maturity date is scribbled down for 2040, with the Highway Trust Fund earmarked as the savings jar to pay off what's owed.
The department's update includes a map showing where the money will be spent across North Carolina. From New Hanover to Haywood County, each location marks a planned project—like a new junction, a repaved road, or a reinforced bridge—supporting the state’s infrastructure.
It’s more than just building roads and adding paint. The goal is to create a transportation system that supports the state’s economy and keeps people moving safely. The bonds will be paid off by 2040, and taxpayers can expect long-term benefits from these investments.
