Up and Coming Weekly is a weekly publication in Fayetteville, NC and Fort Bragg, NC area offering local news, views, arts, entertainment and community event and business information.
Issue link: https://www.epageflip.net/i/647523
18 MARCH 2-8, 2016 ELECTION GUIDE 2016 According to an open letter from Governor Pat McCrory, "it's been 15 years since the last general obligation bond was approved by the voters to upgrade our state's infrastructure and since then North Carolina has added 2 million people in population. The $2 billion bond will connect North Carolina to the 21st century through statewide investments in education, parks, safety, recreation and water and sewer infrastructure. The Connect NC bond will allow us to pay for 50-year assets with 20-year financ- ing. No tax increases are necessary to finance the bond, given our strong revenue growth and ample debt service capacity. We will continue to balance the budget and uphold our position as one of only 10 states to have earned the coveted Triple A bond rating from all three major ratings agencies." Arguments in favor of this bond include: • $2 billion of targeted, long-term investments • Projects in 76 counties • Infrastructure investments are vital to NC's competitiveness • Connect NC will pay for assets that will last for 50 years • Interest rates are historically low • Connect NC will not jeopardize our strong credit ratings •There will be no new taxes or tax increases because of Connect NC The South Central region, of which Cumberland County is a part, would receive: PROJECT COUNTY ESTIMATED COST Bladen Community College Improvements Bladen $6,533,125 Improving Jones Lake State Park Bladen $651,750 Improving Singletary Lake State Park Bladen $575,250 Southeastern Community College Improvements Columbus $6,861,620 Improving Lake Waccamaw State Park Columbus $1,506,000 Fayetteville State University Cumberland $10,000,000 Lyons Science Building Renovation Fayetteville Technical Community College Cumberland $10,668,066 Improving Carvers Creek State Park Cumberland $5,700,750 Montgomery Community College Improvements Montgomery $6,334,537 Sandhills Community College Improvements Moore $3,816,267 Improving Weymouth Woods State Park Moore $428,250 Convert Samarcand to Statewide Moore $8,500,000 Law Enforcement Center Richmond Community College Richmond $7,229,431 UNC-Pembroke Business School Robeson $23,000,000 Robeson Community College Improvements Robeson $7,296,568 Sampson Community College Improvements Sampson $4,774,533 Improving Lumber River State Park, Scotland, Hoke, Robeson and Columbus $2,628,750 The NC Connect website offers answers to some frequently asked questions about the bond and bonds in general: Will Connect NC require a tax increase? No tax increases are necessary to finance the bond. The state has ample credit capacity to borrow and repay the bonds with no tax increase. Because we are paying off our existing debt rapidly, our overall debt levels will not increase with this new bond. Does the Connect NC bond meet all of our state's infrastructure needs? No. While this bond will go a long way toward connecting more North Carolinians to educational and recreational opportunities, in reality, it's just a start. Even with Connect NC, the majority of our state's infrastructure needs will remain unmet and our community colleges and universities will still have projects that need to be built on their campuses. But Connect NC begins the long-neglected task of building and upgrading our state's infrastructure. Can North Carolina afford to take on debt of this size? Yes. The Connect NC bond proposal is well within current debt affordability as de- termined by the State Treasurer and the nonpartisan Debt Affordability Committee. North Carolina is one of only 10 states with AAA credit rating from all three major ratings agencies. This top credit rating saves North Carolina taxpayers millions of dollars and we will not do anything to jeopardize our pristine credit ratings. Because we are paying off our existing debt rapidly, our overall debt levels will not increase with this new bond. With interest rates at historic lows, it has never been less expensive to borrow. Interest Rates - 10-Year Treasury & Muni Bond Index - 1960 to present Why use bonds to build state infrastructure? The bond allows us to pay over 20 to 25 years for assets that will last 50 years or more, and to do so at historically low rates. Most of these projects cannot be financed from our annual operating budget, just as most homeowners pay for a house as they use it over time, not the day that they move in. North Carolina has been rated AAA since state ratings began in the 1960s, and will continue to be rated AAA with this bond issue. Find our more about this issue at http://connect.nc.gov. Connect NC $2 Billion Bond: What Does It Mean for the Sandhills? Any voter who is qualified to vote in the election is entitled to assistance upon entering the voting enclo- sure and exiting the voting enclosure. The voter must tell the precinct official that he/she desires to have assistance, stating the reason assistance is needed. In addition, the voter must tell the precinct official who he/she wishes to receive assistance from. The precinct official may assist the voter if the voter requests. The person rendering assistance to the voter cannot persuade the voter to cast his/her ballot in any par- ticular way nor keep any record of how the voter marked his/her ballot. If you need assistance voting: ELECTION 2016: YOU DECIDE