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Economic woes force Wake to delay school projects

Posted April 22, 2009

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— The economic downturn has started to slow school construction in Wake County.

Wake County Public School System officials said Forest Ridge High School would be delayed by one year, Rolesville Middle School by two years and Walnut Creek Elementary School by three years. Renovations at Wilburn Elementary School will be pushed back, also.

Wake County is having trouble selling bonds to fund the projects, officials said. If bond sales increase, the speed of construction would pick back up, officials said.

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  • AWakeMom Apr 23, 2009

    LocalYokel - WHAT???? The bond referendem they are refering to is money that is coming into the state system thru taxes. The "guestimate" how much money should be paid in taxes, then figure out how much of that WCPSS needs to build new schools and do renovations. Money for "bonds" aren't there when people don't pay their taxes, tourism dies down, or people vote to NOT increase taxes. The bonds you are refering to are bank bonds. Two different things.

  • LocalYokel Apr 22, 2009

    why take out a loan (bond) to build a school? that is bad planning. Government should save the money (drawing interest) until it has enough to pay for what it needs then execute. It will cost less this way but there is no instant gratification (looks like no instant gratification with bond in this case too). Bonds not selling - I wouldn't buy one from a bankrupt government either. At what point did bonds become an acceptable way to pay for infrastructure? This is a demonstration of lack of discipline.

  • Caveman93 Apr 22, 2009

    Get used to it. This is going to be a nightmare depression!