What types of projects may be funded with project development bonds?
Project development bond proceeds may be used only to finance the capital costs of specified purposes that enable, facilitate, or benefit private development within the development financing district. The following chart details the purposes for which project development bonds may be issued, as specified in G.S. 159-103(a). Note that both counties and municipalities may issue project development bonds to fund all of the specified purposes, regardless of whether the unit of local government may issue general obligation bonds to fund the specified projects or activities. Permissible Uses of Project Development Bonds for both Counties and Municipalities Capital costs of providing airport facilities Capital costs of providing auditoriums, coliseums, arenas, stadiums, civic centers, convention centers, and facilities for exhibitions, athletic and cultural events, shows, and public gatherings Capital costs of providing hospital facilities, facilities for the provision of public health servic