State bond proposal deserves a wider vote

Editorial by Burlington Times-News, July 15, 2015.

In addition to completing a budget — which should have already been finished — the N.C. General Assembly is expected to take up a statewide bond proposal this week.

While the work of the state is now being funded by a “continuing resolution” while a real budget deal is being hammered out, lawmakers are also expected to take a close look at the bond package touted by Gov. Pat McCrory. He has been pushing a $2.85 billion statewide bond that hasn’t been introduced in the General Assembly yet but is expected to land there sometime this week. Both the House and Senate reconvened Tuesday afternoon after taking a week of vacation.

There actually are two pieces to the bond proposal — one to fund public infrastructure and one for transportation. If approved by the General Assembly, the measures would go before voters this November during the municipal elections. State Budget Director Lee Roberts told the Wilmington Star News he is anticipating that the legislature will approve only the infrastructure bond at this time, citing reluctance by lawmakers to use bond money for roads. That’s not the best news for Alamance County. The infrastructure package has no funding earmarked specifically for our area but we do stand to get several million for the N.C. 119 project in the roads package.

Although not all municipalities have regular elections scheduled for this fall, Roberts said it is vital that the state act quickly while borrowing costs are low. McCrory is asking the legislature to reimburse counties for the cost of the election.

The governor’s proposal touts building 50 years of assets with 20 years of financing. The state treasurer’s department has said the bond can be paid for with no tax increase. North Carolina is only one of a handful of states with a AAA bond rating, allowing it to borrow money at the lowest rates.

The governor’s office is calling the plan Connect NC. Roberts said that all the projects laid out on the proposal are close to shovel-ready and have passed muster on issues such as environmental permits. Roberts noted, too, that the projects that were chosen likely would not get any significant funding in the annual state budget.

Despite having fellow Republicans in control of the General Assembly, McCrory has by no means gotten his way on a host of issues. If past votes on statewide bond referendums are any indication, the measure(s) would likely be approved by voters. The trick will be getting the nod from the state House and Senate.

While the timing seems right, we hesitate when it comes to putting so large a bond proposal on a ballot that will include so few voters. November municipal elections have notoriously low turnouts even in the cities and towns where mayors and members of city councils are up for election. Voters in county areas not governed by a municipality have no reason to go the polls at all outside of the referendum. Our guess is that most won’t go to the polls that day.

http://www.thetimesnews.com/article/20150715/OPINION/150719344/15233/OPINION/?Start=1