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.
