N. Carolina's Wake County can't sell school project bonds

RALEIGH — With no one buying the bonds Wake County had planned to sell this fall to cover construction projects through January 2010, county leaders will have to work together to slow, delay or even cancel some planned projects, Wake manager David Cooke said today.

Cooke delivered the news this morning to county commissioners and school board members gathered to discuss how the nation's worsening economic outlook will affect new school construction.

"The market is changing every day. Though we continue to have a long-range perspective, we're not thinking in months or years right now. We're having to think in days and weeks," Cooke told the county's two elected boards.

Members of the school board said they recognized the economic outlook was dire, but none were ready to talk specifics about what school and renovation projects might not be built on schedule.

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