The first sale of the statewide bonds that voters approved this year was announced Wednesday by the governor’s office.
The sale of $200 million of the $2 billion Connect N.C. bond will go to Citigroup Global Markets, which submitted the lowest of six bids. The governor’s office said there will be an “historically low” interest cost of 2.08 percent.
Projects will receive the money beginning in mid-August.
The bond issue was a key win for Gov. Pat McCrory, who campaigned across the state for the funding, which will go to college buildings, parks, the National Guard and water and sewer infrastructure.
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All three major bond rating agencies gave the issuance Triple A ratings, the governor’s office said.
“This is a great day for North Carolina as we are one step closer to breaking ground on long-term infrastructure projects across the state to support our growth and quality of life for generations to come,” McCrory said in a statement.