Crony Bond REVEALED!
$2 BILLION pay-to-play bond:
Where does Connect NC get their millions for promotional marketing materials? Financial disclosure reports are now public on the Board of Elections website and it’s just as we suspected: the “Connect NC” campaign is being bankrolled by bond beneficiaries and special interests.
Appalachian State University gave “Connect NC” $70,000.00, despite the ASU student government having REJECTED support for the bond! NC A&T gave the “Connect NC” campaign $90,000.00! Community colleges have donated thousands each! Engineering firms and contractors!
-NC State University $160,000.00!
-UNC Pembroke $23k
-UNC Greensboro $105k!
-UNC Chapel Hill $34k
-UNC Charlotte $90k
-UNC Wilmington $66k
-Western Carolina $110k
-NC Association of Realtors, $100,000.00!
-NC Chamber $35k
-Farm Bureau $50k
-Winston Salem State University gave $25k
-Winston Salem State University Foundation an additional $25k
So why have we called this $2 billion bond debt proposal the “crony-bond?”
First, it is important to understand that bond underwriter attorneys and banking institutions will make millions from tax dollars before a dime of the actual bond money is ever spent on any bond project. That money doesn’t come from thin air, it comes from the household incomes of North Carolina families!
Second, a look at some of “Connect NC” campaign’s next most generous contributors may cause one to question whether a pay-to-play environment surrounds the upcoming contractor bid process. EXAMPLES:
-LS3P Associates design/engineering firm gave “Connect NC” $10,000.00 Does anybody think they may be anticipating receiving contracts from the bond?
-O’Brien Adkins design/engineering firm: $10,000.00 Think they might be looking at bond contracts?
-Ratio Design architecture/engineering firm: $10,000.00 donation. Think they may be anticipating bond contracts?
-Sanford Contractors, Inc: $12,500.00 “Sanford Contractors is one of North Carolina’s most experienced providers of construction services for commercial, residential, industrial, municipal and state projects.”
-Spangler Companies: $30,000.00 donation to Connect NC. “Spangler Companies, Inc., a private investment company, operates as a holding company. The company, through its subsidiaries, manufactures and supplies building and construction products.”
-Clancey & Theys Construction Company: $10,000 check. Out of the goodness of their hearts, I am sure.
-Gilbane Building Company: $10,000 check. “Gilbane, Inc. is one of the largest privately held family-owned construction and real estate development firms in the industry” Starting to see any pattern here???
-TA Loving Company: $10,000.00 “T.A. Loving Company offers complete large-scale construction building services for commercial businesses, hospitals & more in NC, SC, VA and TN.”
What do you think?
It is difficult to compete with the millions of dollars that Connect NC has been able to spend on promotional marketing materials. Help us spread our message of fiscal responsibility for the sake of the next generation. Make a contribution at: www.AgainstTheBond.com/donate