News
INDY Week's news blog

Archives | RSS

Thursday, September 25, 2008

Financial crisis preventing Durham and Wake from selling bonds

Posted by on Thu, Sep 25, 2008 at 2:21 PM

Today, the N&O reports on Durham County's recent failure to sell $30 million in bonds, and Wake County's decision to delay the sale of over $450 million in bonds, due to a lack of faith in the credit market. Durham County Manager Mike Ruffin is quoted as saying he plans to split up the sale of $130 million in bonds, which the county is seeking to replace the downtown courthouse with a justice center. The $30 million bond failed to attract a single bid, despite Durham County's high credit rating. Looking for a silver lining? From the N&O:

On the bright side, when the turmoil on Wall Street eases, banks will look to lend first to institutions with the highest credit ratings.

Tags: ,

Pin It

Comments

Subscribe to this thread:

Add a comment

INDY Week publishes all kinds of comments, but we don't publish everything.

  • Comments that are not contributing to the conversation will be removed.
  • Comments that include ad hominem attacks will also be removed.
  • Please do not copy and paste the full text of a press release.

Permitted HTML:
  • To create paragraphs in your comment, type <p> at the start of a paragraph and </p> at the end of each paragraph.
  • To create bold text, type <b>bolded text</b> (please note the closing tag, </b>).
  • To create italicized text, type <i>italicized text</i> (please note the closing tag, </i>).
  • Proper web addresses will automatically become links.

Latest in News

Facebook Activity

Twitter Activity

Comments

Proudly, any semblance that you are an intelligent, objective thinker just flew out the window with this incredibly moronic, male-centric, …

by David Klein on Former teacher arrested on sex charges (News)

Oops, I think I goofed here. This case looks like the female teacher had sex with a girl. Oh goodness, …

by ProudlyUnaffiliated on Former teacher arrested on sex charges (News)

© 2014 Indy Week • 201 W. Main St., Suite 101, Durham, NC 27701 • phone 919-286-1972 • fax 919-286-4274
RSS Feeds | Powered by Foundation