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RALEIGH The North Carolina Treasurer’s office said Tuesday it could be mid-March before it has a legal opinion about the fate of outstanding Charlotte airport bonds.
But the Senate sponsor of a bill that would transfer control of Charlotte/Douglas International Airport from the city to an independent authority said he may have a legal opinion by Wednesday.
The fate of over $800 million in bonds emerged last week as a speed bump in what had been a smooth road for the bill in the state Senate. Not even staff attorneys could say whether the bonds, backed by the credit of the city of Charlotte, would have to be re-issued by an authority.
The questions led Sen. Bob Rucho, a Matthews Republican and a lead sponsor, to pull the bill off last week’s Senate calendar and reschedule it for Wednesday.
On Tuesday Rucho said he was expecting a legal opinion on the bonds before the scheduled vote. If he didn’t receive it, he said, he would delay the measure again. He did not say who would be offering the legal opinion.
The Treasurer’s office, however, said it was still looking for an outside opinion.
“The decision to retain a firm to provide the opinion will be based on cost of the proposal and the firm’s expertise in this area,” spokesman Walton Robinson said. “The Department’s final recommendation for a firm will need approval from the Attorney General’s Office. We expect to receive a bond counsel opinion by mid-March.”
