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NC can borrow money for capital improvements

Gov. Pat McCrory, who has complained about the condition of state buildings, got some good news from Janet Cowell on Friday.

The State Treasurer released the debt affordability study which said the state can afford to borrow money for capital projects again.

The annual report on how much the state can afford to borrow showed that the state can borrow up to $470.8 million this year. But Cowell isn't pushing for a shopping spree.

“This is a good indicator of continued economic recovery,” Cowell said in a statement. “While this is a positive development for the State’s finances, we need to continue to apply conservative debt management practices in order to protect the State’s ‘AAA’ bond rating.”

The study recommended continuing the state’s conservative debt management practices.


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