What is a bond referendum?

A bond referendum is a voting process that gives voters the power to decide if a municipality should be authorized to raise funds through the sale of bonds. A general obligation (G.O.) bond is long-term borrowing in which a municipality pledges its full faith and credit (taxing power) to repay the debt over a specified term. G.O. bonds are the least costly financing option available to the City for these projects. 

Show All Answers

1. What is a bond referendum?
2. What is the purpose of a bond referendum?
3. Why use bond financing for these projects?
4. How much would the City issue in bonds?
5. Does this mean the City will wait 7 years to begin these projects?
6. Can I vote for some bond issues but not others?
7. What is the total tax rate implication for each bond referendum question?
8. Will taxes be applied to real property, only?
9. What happens if the bonds don’t pass in September?
10. If voters don’t approve the bonds, does this mean that the City Council will be prevented from raising property tax rates in the future?
11. Given the condition of the economy, is now the right time to vote on these particular bond initiatives?
12. If the items included in the bond referendum are approved, how quickly would the projects begin?
13. If the items included in the bond referendum are approved, in what order would they begin?