AG 1998 10 19 - Laserfiche WebLink

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Vote Twice "For" Progress The Clean Water and Natural Gas Bonds On Tuesday, November 3 Two Opportunities to Vote For Economic Progress - North Carolina's legislature voted overwhelmingly to place two issues on the ballot November 3 that will bring us better jobs and better quality of life. One allows the state' to issue bonds to pay for upgrading and building water and sewer systems. A second would bring natural gas to areas that need an economic boost to bring in new business and industry. The Needs Are There - Outdated treatment system's and hundreds of miles of old pipe help contribute to the more than 4 million gallons of untreated or partially treated wastewater that ends up in our rivers and streams each year. Nearly 100 North Carolina communities cannot get permits to add new homes or businesses until their systems are upgraded. Each year numerous North Carolina communities lose out on new jobs because businesses and industries increasingly require access to natural gas. The Clean Water Bonds Allow Cities, Counties and Towns to Start Fixing the Needs Now, Not Later: The bonds make $800 million available to build new treatment. facilities, expand capacity to new businesses and homes and upgrade deteriorating facilities. These funds will more than triple the number of clean water projects that can be undertaken in North Carolina. The bonds include: $500 million for grants to local communities - Money for replacing old pipes and upgrading or building water treatment facilities and sewage treatment plants. Grants awarded based on critical needs and ability to pay. · $300 million for loans to communities - Below-market rate loans available to all local governments for Water and sewer projects, including pipe repair, sewer and water line extension and new facilities. , The Bonds Make North Carolina Eligible for $175 Million in Federal Matching Funds for Clean Water Projects -Without money from the bonds, the state won't receive federal grants to undertake needed clean water projects. The Natural Gas Bonds Will Bring $200 Million in Loan and Grant Funds to help bring jobs to Under-served Areas to Connect to Pipelines - The money will be provided by the state Utilities Commission to groups that propose extending gas service to under-served and unserved areas of the state. The amount of each loan or grant will help offset the difference between expected revenue and the cost of extending gas lines to the area. Groups are required to pay back the loans based on future profits. The' Bonds Bring Economic Opportunities to Cities, Counties and Towns Across the State - Money from both bonds will benefit all regions in the state. The.bonds fund projects that are based on critical needs and ability to pay. Urban areas like Charlotte, High Point and Raleigh have used state or federal funds like these in the past to add capacity to wastewater treatment facilities. The Bonds Bring Economic Development Without Raising Taxes - With Iow interest rates, issuing the bonds now enables the state to pay back the loans without raising taxes. Legislative leaders have indicated that these bond issues will not require future tax increases.