Featured Municipal Bond Issue, Week of June 11th, 2018: Wake County, NC – $151 Million

Wake County, NC is issuing $151 million in limited obligation bonds for the purposes of constructing and equipping new schools and renovating existing schools. The schools to be renovated include Apex High School in Cary, NC, and Wake Technical Community College in Raleigh.

The bonds are secured by a limited obligation of the County. All sources of funds available to the County, including general fund revenues, may be used as payment. The County manager shall include in their budget payments of interest and principle of the bonds, but this may be deleted from the budget/appropriations process by adoption of a resolution passed by the County Board of Commissioners. Details on the purposes, tax-status, security, as well as other matters pertaining to these Wake County bonds can be found in the preliminary official statement, available on MuniOS.

Wake County largely encompasses the Raleigh NC Metropolitan Area. As of April 2018, the Raleigh metro area has an unemployment rate of 3.2%, which is 0.7% lower than the U.S. rate in April, and 0.6% lower than the unemployment rate as of April 2017, as can be seen in the chart below.

You can find 10-year employment and labor force trends for all 50 states and each Metropolitan Statistical Area in the U.S. in our Employment Database, and more labor sector growth and compensation data on our Job Market page.

Wake County

Provided at left (click to expand) is a quick snapshot of financial characteristics of Wake County as of 06/30/2017, compared with the 2016-2017 medians for other U.S. counties, courtesy of Merritt Research Services, LLC. Merritt has many of the sector medians publicly available and regularly updated on their Benchmark Central page. (Merritt believes the data to be reliable but does not make any representations as to its accuracy or completeness)In addition to the Merritt information related to the featured bond, more information can be found on our municipal bond calendar, city, state, and county pages, and our employment database.

These facts and numbers are for informational purposes, and should not be considered an official disclosure for potential investors. Investors should consult the official statement. None of the information provided should be construed as a recommendation by MuniNet Guide, MuniNet LLC, Merritt Research Services LLC, or any of their employees. Information and analysis is for informational purposes only.

by Jeffrey L Garceau