Gov. Roy Cooper, on June 20, 2018, signs into law Senate Bill 758, which authorizes the N.C. Department of Transportation to use the Build NC financing tool to help expedite critical highway projects. Cooper is joined by Transportation Secretary Jim Trogdon, left, and Sen. Mike Woodard.
GREENSBORO – North Carolina Governor Roy
Cooper today signed into law the Build NC Bond Act of 2018, a new financing tool to help expedite critical highway projects.
“For families trying to get to work and school faster, for farmers
and business owners seeking to get their goods to customers, and for CEOs
looking to grow in North Carolina, transportation is essential,” Gov. Cooper
said. “Build NC will help deliver critical transportation projects to
communities more quickly, helping North Carolina attract opportunities and stay
Under Gov. Cooper’s direction, the N.C. Department of
Transportation has accelerated 350 highway projects and made room for an
additional 144 projects in the current 2018-2027 transportation plan. Build NC
gives NCDOT an added tool to expedite more infrastructure projects for quicker
“Transportation is the backbone of our state’s economic
competitiveness and our quality of life,” said Transportation Secretary Jim
Trogdon. “Build NC is a tool that will allow us to continue strong project
Build NC will only be used if NCDOT is able to maintain its strong
project delivery pace, which increases expenditures and decreases its cash
balance. If that balance reaches a certain level, the department can ask the
state treasurer to issue up to $300 million in bonds annually over the next 10
years to maintain project delivery at current levels.
Build NC bonds will be applied to projects consistent with the
Strategic Transportation Investments Law that requires projects be selected
through a data-driven scoring process. These are projects in the regional and
Repayment of any bonds sold will come from within the state Highway
Trust Fund, not the General Fund.