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FACTS YOU SHOULD
KNOW ABOUT THE
BOND ISSUES REFER
On November 2nd of this year, North
Carolinians will vote on four pubUc-facil-
ity bond referendums:
*310 million of University Improvement
•$250 million of Community College
•145 million of Clean Water Bonds
•35 million of State Parks Bonds
Below are facts as to how the UNC
"Universtiy Improvement" Bonds will
benefit all North Carolinians.
FACT: Curently, Fayetteville State Uni
versity can only house 1,000 of its 4,000
students on campus. Passage of the Uni
versity Improvement Bonds will appro
priate $9.5 million to FSU to build new
dorms and renovate old dorm space to
accommodate our rapidly growing stu
dent enrollment. In addition to FSU, all
other 15 cainpuses, as well as the nine
Area Health Mucation Centers, the state
wide network of the UNC Center for
I*ublic Television, the North Carolina
Arbortum, and the Norht Carolina School
of Math and Science will receive capital
funds if the UNC bond referendum
FACT: The multi-campus University of
North Carolina is nationally recognize as
one of the most outstaixiing public higher
education systems in the United States,
greatly benefiting our state's economy.
Out-of-state employers are attracted to
North Carolina by the groundbreaking
research conducted by the UNC system
graduates who make first-rate employ
ees, and by the 16 campuses throughout
the state that offer affordable education
to employees and their families.
FACT: Passage of the University Bond
issue will allow the nation's oldest state
university system to meet the future needs
of its 16 campuses and affiliated organiza
tions and to maintain the high c^lity that
North Carolinians expect, the University
project* will serve all citizens of the state.
FACT: Research by the Bureau of Eco
nomic Analysis of tne U. S. D^artment
of Commerce shows that each ]il million
of new construction in North Carolina
creates about 36 jobs. On that basis,
passage of the $J10 million University
Improvement bond referendum will cre
ate more than 11,000 new jobs through
out the state.
FACT: From 1989 to 1991, no ground
was broken on a UNC building financed
with state appropriations. Only five build
ings have been approved by the legisla
ture since 1992. Meanwhile, crowding
has become more acute on fast-growing
campuses, and deteriorating facilities on
older camwses have become more of a
problem. In dollar terms, the total appro
priated during this five-year period tor
new construction was $75 million,
whereas the capital needs presented by
the UNC Board of Governors since 1989
amounted to $644 million. In the same
period, enrollment at the 16 UNC cam
puses has grown by some 16,400 stu
FACT: In the five years before the bud
get crunch, the state was apprwriating
about $75 nullion annually for UNC capi
tal needs. This money typically came from
funds left over each year after the state’s
operating needs were met. During the
budget squeeze, there were no leftovers.
Now there is a backlog of capital needs
that can best be met by borrowing. It
makes sense to pay down the debt as we
use the new and refiirbished facilities.
FACT: Just as now is an excellent time to
buy a home or to refinance a mortgage,
now is also an excellent time to finance
long-deferred building and renovation
projects on UNC campuses. Interest
rates are at their lowest levels in more
than two decades.
FACT: This is also an econotmcal time to
build. The construction industry has been
hit hard by the real-estate recession, and
bids should be favorable, reflecting con
tractors’ eagerness for business.
FACT: Because our debt is so low, issu
ing bonds will not harm North Carolina’s
excellent credit rating. Our state is one of
only four in the nation given the highest
rating (tripIe-A) by Moody’s, Standard &
Poor s, and the Fitch ratings services.
The high rating keeps the state’s borrow
ing costs low.
FACT: The projected debt service (pay
ments for interest and principal) on all of
the proposed bonds would Ekely be less
than 1 percent of the state’s General Fund
budget. State Treasurer Harlan Boyles
and other experts believe the state can
meet the debt service on the bonds in
future years without an increase in state
FACT: The North Carolina General As
sembly overwhelmingly approved put
ting these bond refererSums on the ballot,
with only one dissenting vote.
FACT: The bond proceeds will be used
for investment in North Carolina’s eco
nomic future and to improve the quality of
life in our state for many years to come.
Individuals pictured above are Trudy Fields, President - FSU SGA;
Thomas I. St^rs, Chairman - Bond Issue Committee; FSU Chancellor
L. V. Hackley; C. D. Spangler, Jr., President - UNC System.