Voters Approved 2015 Bond Referendum

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Bond Referendum 

THANK YOU FOR YOUR INTEREST IN THE BOND REFERENDUM. THIS WAS APPROVED BY VOTERS ON NOV. 3, 2015. CHECK BACK FOR OUR REPORTING OUT ON PROGRESS TOWARD MAKING THESE PUBLIC IMPROVEMENTS THROUGHOUT THE COMMUNITY!

The Town Council has approved putting a $40.3 million general obligation (G.O.) bond on this November's ballot. The bond would fund streets and sidewalks, trails and greenways, recreation facilities, solid waste facilities and stormwater improvements. Chapel Hill voters will decide whether to give the Town the borrowing authority for the bonds.

The Town hosted a Come Learn With Us session on the Bond Referendum Thursday, Oct. 15. You can find more information at townofchapelhill.org/comelearnwithus

Key Facts

  • A general obligation (G.O.) bond is long-term borrowing in which the Town pledges its full faith and credit (taxing power) to repay the debt over a specified term.
  • The bond referendum would not require a tax increase. The Debt Fund has capacity to repay the debt with the existing dedicated tax.
  • The bonds would fund projects identified from extensive planning via the Community Survey, The Bike Plan, Greenways Master Plan, Comprehensive Parks Plan and other efforts.
  • An approved referendum gives authority to issue debt within seven years from a passing of the referendum.
  • There is a dedicated funding source for the repayment of the bonds, so that the repayment of bonds will not compete with other Town funding needs.
  • To pay the principal and interest on the stormwater referendum bonds, there would be an annual stormwater fee increase of about $15 to $20 for the typical residential property.

Bond projects are identified in various plans created with extensive public input and participation, including the following:

FAQs

Expand/Contract Questions and Answers

  • What is a Bond Referendum?

  • How are the capital projects for the referendum selected?

  • Is it possible that the projects identified for the referendum might change?

  • What is a “bond order” and why are there 5 of them that will appear on the ballot?

  • Will a tax increase be needed to repay the bonds?

  • What is the Debt Management Fund?

  • When is the referendum?

  • When will the bonds be issued?

  • What will the Ballot look like?

  • Why are we planning on using voter approved (General Obligation) debt to pay for these projects?

  • Why borrow money to for capital projects?

  • When can I vote on the bond referendum?

  • When was the last Bond Referendum in Chapel Hill?

Voting Information

The last day to register to vote is Friday, Oct. 9, 2015. Early voting begins Oct. 22. For more information, contact the Orange County Boards of Elections at 919-245-2350 or orange.boe@ncsbe.gov.

For Durham County residents of Chapel Hill, contact the Durham County Board of Elections at 919-560-0691 or durham.boe@ncsbe.gov.

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