The economy is forcing even the most creditworthy localities, such as Henrico County, to delay plans to borrow money for public projects.

In parts of the country, that could mean it will eventually take longer to pave roads and build schools and result in government workers being laid off, some bond market experts say.

The credit crisis prompted Henrico to postpone the sale of $95.8 million of bonds -- basically IOUs -- it had planned for Tuesday.

Meanwhile, Richmond officials are guardedly watching the money markets as they plan for their usual late fall borrowing to tide the city over until the new year's tax payments start rolling in.

Henrico, one of a handful of localities given top "Triple-A" grades by the nation's three main credit-rating agencies, is delaying the sale because too few people are buying bonds in the credit crisis, which is pushing rates higher than the county is willing to pay.

"There's no market to speak of right now," said Finance Director John A. Vithoulkas.

The bonds were supposed to pay for schools and fire stations, as well as a portion of the North Gayton Road project.

For details, reach tomorrow's Richmond Times-Dispatch. -- Michael Martz and David Ress