Harnett County issues $80M in bonds for school construction amid debt market success

Harnett County officials are celebrating a successful bond sale that will fund the construction of Flatwoods Middle School, marking a significant step in the county's financial strategy. During the Board of Commissioners Work Session on April 15, 2025, county representatives revealed that they issued bonds totaling $80.57 million, with an impressive interest rate of just 3.96% over 20 years.

The bond sale, which was completed in a record 45 minutes, attracted overwhelming interest, with orders exceeding the available bonds by 50%. This high demand reflects the county's strong financial management and positive economic outlook, as highlighted by recent reports from credit rating agencies S&P and Moody's. While the county did not receive an overall credit rating increase, improvements in key areas such as economic management and fund balance were noted.

County officials emphasized the importance of proactive financial planning, detailing how the county's budget process and capital improvement plans are designed to meet both current and future needs. The reports from the rating agencies praised the county's management practices and its commitment to maintaining a strong financial position.

In addition to the bond sale, the county reported a stable general fund with a slight increase in revenues, including a 3.67% rise in sales tax collections compared to the previous year. This stability is crucial as it supports ongoing investments in public services and employee salaries.

Overall, the meeting underscored Harnett County's commitment to fiscal responsibility and strategic growth, setting a positive tone for future developments and community investments.