Opened file
North Carolina
Same nine questions as every other state. Answers are filled only where this state’s own statute or financial report is attached.
Decision instrument
A debt that pledges the faith and credit of the state needs a vote of the people who vote, unless it is one of six listed exceptions.
What public act authorizes the borrowing, and where is the purpose and the first-year cost written down? Constitution, Article V, Section 3. The exceptions are a refunding, an unforeseen revenue deficiency, a loan against taxes due this year up to 50% of those taxes, suppressing a riot or an invasion, an emergency the Governor declares in writing, and new debt up to two-thirds of the amount by which the state’s outstanding indebtedness fell in the preceding biennium. The constitution does not set a percent of revenue or a dollar ceiling. The bond schedule says the bonds now outstanding were authorized by the 2004 session law and the 2015 session law. It does not print the election returns.
Debt statement
No Annual Debt Statement of the New Jersey kind.
What yearly filing states gross debt, deductions, and how close the issuer is to its limit? State general-obligation bonds are in the annual report for the year ended June 30, 2025, Note 8, and in Table 12. County dollar rows are not attached.
Debt limit
A county or a city needs the same kind of vote for faith-and-credit debt, with the same kind of exceptions. A statute adds an 8% net-debt test.
What cap binds a county or a city, and is the state's own ceiling a different rule? Constitution, Article V, Section 4. The local two-thirds exception is two-thirds of the reduction in the unit’s outstanding indebtedness during the preceding fiscal year, not the preceding biennium. General Statute 159-55 is a different rule. A bond order may not be adopted if net debt would exceed 8% of the assessed value of taxable property. Refunding bonds are outside that 8%. So are bonds for water, gas, or electric power, and certain sanitary-sewer bonds. The 8% test does not replace the vote.
Conflict rule
An officer who helps make or administer a public contract may not take a direct benefit from it. More than 10% of a company that is a party to the contract is one such benefit.
Which ethics statute covers local officers, what counts as an interest, and who is left out? General Statute 14-234. A direct benefit also includes any income or commission from the contract, or property acquired under the contract. The spouse counts. A different statute, 138A-36, has no percent. A public servant may not take part in an official action if the servant, or a person associated with the servant, may receive a financial benefit that would impair independent judgment, or from which it could reasonably be inferred that the benefit would influence the action. The servant has to abstain in writing. That statute does not permit what 14-234 forbids.
Geography
One hundred counties.
What is the county-equivalent, and which cities, schools, and authorities must not be pasted onto that row? Census county codes. County seats are not in the bond schedule, so they are not filled in. Cities and the university system also borrow. Dollar rows stay blank.
Primary money record
General obligation bond principal: $1.413 billion, as of June 30, 2025. All of it is payable from General Fund revenues.
Which audited report is the state's own number, and as of what date? Table 12 and Note 8, in thousands. Outstanding principal is $1,412,640. The nine series still outstanding add to that figure. The principal due each year from 2025-26 through 2038-39 also adds to $1,412,640. Authorized and issued was $3,071,158. Retired was $1,658,518. The difference is the amount outstanding. The 2004 session law accounts for $1,471,158 authorized and issued. The 2015 session law accounts for $1,600,000. This table does not print a premium.
Who pays the coupon
In the year ending June 30, 2026, these bonds need $173.320 million of principal and $53.202 million of interest.
Which fund, tax, or rate is actually pledged — not which new store might show up later? Note 8. Together that is $226.522 million. The remaining interest over the life of the bonds is $281.378 million. The schedule says the bonds are payable from General Fund revenues. They are the faith-and-credit debt in the constitutional sense.
Other obligors
Limited-obligation bonds: $1.979 billion. Grant-anticipation bonds: $1.045 billion. Do not add either to the $1.413 billion.
Which authorities and districts borrow beside the state and must not be added to its total? Note 8, in thousands. Governmental limited-obligation bond principal is $1,978,945. In the year ending June 30, 2026, those bonds need $219.235 million of principal and $90.531 million of interest. Grant-anticipation revenue vehicle bond principal is $1,044,580. Business-type revenue bond principal is $2,018,664. The University of North Carolina System, a component unit, has $4,190,738 of revenue-bond principal. The note lists each of these apart from the general-obligation bonds. None of them is added.
Book-entry wall
Cede & Co., at the Depository Trust Company.
Who is the registered owner on ordinary public paper? Series-level confirmation still waits on that official statement. Beneficial owners stay unnamed.
100 counties. Dollars blank.
Names and codes are on the record. No local debt total is attached, so none is printed.
- Alamance CountySeat: Not on this record37001Not proven
- Alexander CountySeat: Not on this record37003Not proven
- Alleghany CountySeat: Not on this record37005Not proven
- Anson CountySeat: Not on this record37007Not proven
- Ashe CountySeat: Not on this record37009Not proven
- Avery CountySeat: Not on this record37011Not proven
- Beaufort CountySeat: Not on this record37013Not proven
- Bertie CountySeat: Not on this record37015Not proven
- Bladen CountySeat: Not on this record37017Not proven
- Brunswick CountySeat: Not on this record37019Not proven
- Buncombe CountySeat: Not on this record37021Not proven
- Burke CountySeat: Not on this record37023Not proven
- Cabarrus CountySeat: Not on this record37025Not proven
- Caldwell CountySeat: Not on this record37027Not proven
- Camden CountySeat: Not on this record37029Not proven
- Carteret CountySeat: Not on this record37031Not proven
- Caswell CountySeat: Not on this record37033Not proven
- Catawba CountySeat: Not on this record37035Not proven
- Chatham CountySeat: Not on this record37037Not proven
- Cherokee CountySeat: Not on this record37039Not proven
- Chowan CountySeat: Not on this record37041Not proven
- Clay CountySeat: Not on this record37043Not proven
- Cleveland CountySeat: Not on this record37045Not proven
- Columbus CountySeat: Not on this record37047Not proven
- Craven CountySeat: Not on this record37049Not proven
- Cumberland CountySeat: Not on this record37051Not proven
- Currituck CountySeat: Not on this record37053Not proven
- Dare CountySeat: Not on this record37055Not proven
- Davidson CountySeat: Not on this record37057Not proven
- Davie CountySeat: Not on this record37059Not proven
- Duplin CountySeat: Not on this record37061Not proven
- Durham CountySeat: Not on this record37063Not proven
- Edgecombe CountySeat: Not on this record37065Not proven
- Forsyth CountySeat: Not on this record37067Not proven
- Franklin CountySeat: Not on this record37069Not proven
- Gaston CountySeat: Not on this record37071Not proven
- Gates CountySeat: Not on this record37073Not proven
- Graham CountySeat: Not on this record37075Not proven
- Granville CountySeat: Not on this record37077Not proven
- Greene CountySeat: Not on this record37079Not proven
- Guilford CountySeat: Not on this record37081Not proven
- Halifax CountySeat: Not on this record37083Not proven
- Harnett CountySeat: Not on this record37085Not proven
- Haywood CountySeat: Not on this record37087Not proven
- Henderson CountySeat: Not on this record37089Not proven
- Hertford CountySeat: Not on this record37091Not proven
- Hoke CountySeat: Not on this record37093Not proven
- Hyde CountySeat: Not on this record37095Not proven
- Iredell CountySeat: Not on this record37097Not proven
- Jackson CountySeat: Not on this record37099Not proven
- Johnston CountySeat: Not on this record37101Not proven
- Jones CountySeat: Not on this record37103Not proven
- Lee CountySeat: Not on this record37105Not proven
- Lenoir CountySeat: Not on this record37107Not proven
- Lincoln CountySeat: Not on this record37109Not proven
- McDowell CountySeat: Not on this record37111Not proven
- Macon CountySeat: Not on this record37113Not proven
- Madison CountySeat: Not on this record37115Not proven
- Martin CountySeat: Not on this record37117Not proven
- Mecklenburg CountySeat: Not on this record37119Not proven
- Mitchell CountySeat: Not on this record37121Not proven
- Montgomery CountySeat: Not on this record37123Not proven
- Moore CountySeat: Not on this record37125Not proven
- Nash CountySeat: Not on this record37127Not proven
- New Hanover CountySeat: Not on this record37129Not proven
- Northampton CountySeat: Not on this record37131Not proven
- Onslow CountySeat: Not on this record37133Not proven
- Orange CountySeat: Not on this record37135Not proven
- Pamlico CountySeat: Not on this record37137Not proven
- Pasquotank CountySeat: Not on this record37139Not proven
- Pender CountySeat: Not on this record37141Not proven
- Perquimans CountySeat: Not on this record37143Not proven
- Person CountySeat: Not on this record37145Not proven
- Pitt CountySeat: Not on this record37147Not proven
- Polk CountySeat: Not on this record37149Not proven
- Randolph CountySeat: Not on this record37151Not proven
- Richmond CountySeat: Not on this record37153Not proven
- Robeson CountySeat: Not on this record37155Not proven
- Rockingham CountySeat: Not on this record37157Not proven
- Rowan CountySeat: Not on this record37159Not proven
- Rutherford CountySeat: Not on this record37161Not proven
- Sampson CountySeat: Not on this record37163Not proven
- Scotland CountySeat: Not on this record37165Not proven
- Stanly CountySeat: Not on this record37167Not proven
- Stokes CountySeat: Not on this record37169Not proven
- Surry CountySeat: Not on this record37171Not proven
- Swain CountySeat: Not on this record37173Not proven
- Transylvania CountySeat: Not on this record37175Not proven
- Tyrrell CountySeat: Not on this record37177Not proven
- Union CountySeat: Not on this record37179Not proven
- Vance CountySeat: Not on this record37181Not proven
- Wake CountySeat: Not on this record37183Not proven
- Warren CountySeat: Not on this record37185Not proven
- Washington CountySeat: Not on this record37187Not proven
- Watauga CountySeat: Not on this record37189Not proven
- Wayne CountySeat: Not on this record37191Not proven
- Wilkes CountySeat: Not on this record37193Not proven
- Wilson CountySeat: Not on this record37195Not proven
- Yadkin CountySeat: Not on this record37197Not proven
- Yancey CountySeat: Not on this record37199Not proven