UNC Board of Trustees Discuss Connect NC Bond

House Representative Dean Arp briefed the UNC Board of Trustees on the Connect NC bond that will be on the ballot across North Carolina in March.

“We believe this is a proactive and fiscally sound plan,” he said.

The total investment will add up to $4.36 billion with the $2 billion bond proposal and the $2.36 billion that will be paid in cash for transportation needs over the next six years.

The bond will go towards building and infrastructure needs.

Projects across the UNC System, including the Medical Education Building Replacement at Chapel Hill, are included in the proposal, which is the first general obligation bond issued in the last 15 years.

“We’re very excited about the bond package,” UNC Chancellor Carol Folt said. “It’s a huge investment in the state. It’s great for the universities. Ours goes directly to increasing the number of physicians so we can increase the number of lives saved.”

Arp added that even with borrowing $2 billion, the state would still be 25 percent below the recommended debt limit.

So trustee Hari Nath asked why just $2 billion instead of a bond that would fund more capital need projects?

“I’m a positive guy and I like to focus on the positive things,” Arp answered. “Two billion is what we could get passed.”

Arp said that after looking at the financial standing of the state, the General Assembly would be open to a higher bond number. But Arp said that he had encountered opposition to the initial number of the bond proposal but he added that those groups have warmed to the idea.

“It provides not only an economic benefit to the citizens of North Carolina, but it makes financial sense,” said Dwight Stone, Chair of the Board of Trustees. “If we address those messages I think the citizens of North Carolina are going to go along with it.”

The bond proposal will be on the ballot across the Tar Heel state during the election primary on March 15.

UNC Board of Trustees Discuss Connect NC Bond

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