Local Government Commission Approves Johnston County Revenue Bonds Request

RALEIGH – On Tuesday, the Local Government Commission (LGC) approved $75 million in revenue bonds for water and sewer system improvements in Johnston County.

Projects funded by the bonds include the purchase of water supply from the town of Wilson, transmission pipe upgrades for Wilson and Johnston County and upgrading a wastewater treatment facility.

In other action, the LGC approved a resolution to return financial control to the town of Eureka in Wayne County. The General Assembly temporarily suspended Eureka’s town charter June 17, 2019, with an expiration date of June 30, 2024. The LGC has corrected deficiencies that led to the charter suspension.

The LGC is chaired by State Treasurer Dale R. Folwell, CPA, and staffed by the Department of State Treasurer (DST). It has a statutory duty to approve most debt issued by units of local government and public authorities in the state. The commission examines whether the amount of money that units borrow is adequate and reasonable for proposed projects and confirms the governmental units can reasonably afford to repay the debt.

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3 COMMENTS

  1. Get ready for higher taxes JoCo. The good old boys network is going to make money off of developments from infrastructure paid for by your tax dollars. They will say that development increases tax revenue, we’re starting off $75 million in the whole. How long it it going to take to recoup that $75 million? not to mention the associated cost of more people, more traffic, more schools, need for more roads etc.
    The rich get richer, the poor get poorer, and the middle class pays all the taxes. Keep voting for these same idiots JoCo, you get to pay for the rewards.

    • Are they not all Republicans or Maga? How many democrats hold any power in Joco? I really don’t know and I am too lazy to google it at the moment. And don’t come at me with the Republicans are democrats in disguise – I know better than that. The Dixiecrats left after the civil rights legislation was passed – heaven help we have racial equality and desegregation! They all became the modern day maga party – republicans before that. And yes I also know many democrats did not support bussing back in the day but they evolved and changed with the world – which is what we call progress. The world has always and will always change …….

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