| 115th Year, 39th Issue | Thursday, May 6, 2004 | Sparta, North Carolina |
North Carolina voters will see a constitutional amendment on the ballot in the Nov. 2 election that, if approved, would give local governments a new option for financing economic development.
Amendment One, as the issue is called, would allow North Carolina to become the 49th state that authorizes self-financing bonds.
If the amendment is approved, local governments could create
development districts in which bond money would be spent. Improvements
in these districts would increase the tax base, generating revenue to
pay back the bonds.
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