• North Carolina elected officials sign off on new road debt

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    RALEIGH, N.C. (AP) - North Carolina's top statewide elected leaders have signed off on the first round of borrowing through a new program designed to keep local and regional road-building projects rolling along.

    Council of State members agreed Thursday to approve the issuance of $300 million in bonds through the "Build NC" initiative that the General Assembly approved last year. The bonds will be repaid through dedicated transportation revenues like gasoline taxes and vehicle sales taxes.

    The council met in a special meeting to consider issuing the debt before a deadline when the fiscal year ends June 30. Some council members raised concerns about the details, but the final vote was unanimous.

    Last year's Build NC legislation allows $300 million in new transportation debt annually through 2028.

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