The state House is considering spending $450 million in debt for prisons, universities and other projects.
None of it will be approved by voters.
Although Gov. Mike Easley recommended a bond referendum, the House budget includes debt issued through certificates of participation.
COPs, as they are usually called, are more expensive than voter-backed bonds. In addition, the House would spend $65 million more than recommended by state Treasurer Richard Moore, and more than double what Easley proposed.
Spending that much without voter approval has some legislators nervous, according to Dan Kane in this story:
"We're committing the voters' money for eight years from now, 10 years from now, so the voters ought to have a say as to whether they want to pay for that much debt," said Senate Minority Leader Phil Berger, a Rockingham County Republican.
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