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By Gary D. Robertson
Associated Press
July 14, 2008
RALEIGH, N.C. - The General Assembly is forever
in debt to a 1991 court opinion that allowed North
Carolina governments to approve certain types of
borrowing without voter approval.
This year, the Legislature went on a borrowing spree
in the budget, authorizing $857 million in debt over
the next four years. That's the largest amount ever
approved in one year without requiring a public vote.
Most of the borrowing is so-called "special
indebtedness" that will pay for 1,500 prison beds,
more than 15 university and state buildings, even an
oyster hatchery and the renovation of the polar bear
exhibit at the North Carolina Zoo.
"If the Legislature can authorize a billion dollars of
debt without a vote, why would they ever offer another
bond issue again?" asked John Hood of the conservative
John Locke Foundation and a frequent critic of
nonvoter approved debt..
Republicans who voted against the budget said they
were disturbed by the amount of borrowing, as well as
spending cash on planning for an additional $1 billion
in future projects.
"So we're now going to add (payment) requirements over
$100 million to the next three or four years," said
House Minority Whip Bill McGee, R-Forsyth. "I think
problems are coming for the taxpayer."
Hood likened the nonvoter-approved borrowing in recent
years to the frog that will jump out of a pot filled
with boiling water, but fails to notice a slowly
rising temperature until it's too late.
"I think the taxpayers are at the risk of being
cooked," Hood said.
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The 3rd
District Cookbooks, THE RIGHT RECIPES, are on sale
for $20. This hardcover, ring binder book includes over
450 no repeat recipes. There are a few available at the
Headquarters, but call Ann Sullivan
734-1218.
The 3rd District is raffling a 5 day
4 night Cruise to Key West and Cancun, Mexico for December
1. Tickets are $5 each, 3 for $10, or 7 for $20. Drawing
to be held at NCGOP Convention in Greensboro, June 7th.
Cruise ONLY, and includes outside cabin. Contact Ann
Sullivan 734-1218. |
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August
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