WASHINGTON — North Carolina today expects to competitively sell $487.7 million of general obligation bonds, its first new-money GOs in three years.

The triple-A rated state issued limited obligation bonds and other appropriation-supported debt in 2008 and 2009.  However,  this will be its first new-money GO sale since Citi bought $502.7 million in February 2007 at a true interest cost of 4.08%.

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