bond

RALEIGH — State lawmakers in Raleigh are currently debating bills that would authorize at least $760 million in new state debts — for land acquisition and for proposed University of…

State lawmakers are considering a proposed constitutional amendment to allow local governments to issue bonds without a public vote to construct convention centers, sports arenas, and other “economic development” projects. Careful research of these programs in other states reveals that they do not enhance a community’s economic growth over time. Moreover, they weaken governmental accountability to a voting public that does not favor subsidizing private businesses.