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Bond borrowing crunch

The national financial crisis could hold up some school construction projects.

As noted in today's article by David Bracken and Michael Biesecker, Wake County has postponed the sale of $454 million in bonds over the past two weeks. Of that amount, $370 million is for school construction from the 2006 bond.

Wake County Manager David Cooke said the county has enough cash that the delay in selling bonds will not have an immediate effect on projects already under way. But things get tricky if the delay gets too long for borrowing the money.

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