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New Hanover committee reviews $411M debt load and five bond scenarios, finds $130M immediate capacity
Summary
County staff told the Joint County–School Capital Planning Committee the county had $411 million in outstanding debt and roughly $130 million of room under its $2,200-per-capita policy; commissioners and school leaders debated five bond-size scenarios and a straw poll favored a $300 million option.
Eric Cradle, the county finance presenter, told the Joint County–School Capital Planning Committee that New Hanover County had $411,000,000 in outstanding debt as of June 30, 2025 and “we've got existing capacity that we could issue right now, still being compliant of about $130,000,000.” He said the county follows a debt-per-capita policy set at $2,200 and that normal principal paydowns create additional capacity over time: “in fiscal year 2026 ... we're paying down $47,000,000 of debt.”
The presentation outlined five headline scenarios for potential general obligation…
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