Local News

State issues first series of bonds

Posted August 13, 2008 2:57 p.m. EDT

— The State of North Carolina put an extra $200 million in state coffers Wednesday with the sale of a series of bonds.

Bond purchases pay for state projects, while paying a dividend to the buyer.

The Council of State in June approved the day of up to $2.3 billion to fund investments in higher education, public safety and other statewide improvement projects. Additional bonds will be sold as the projects require more funding.