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Cary, North Carolina, Transportation Bond Issue (October 2019)
| Cary Transportation Bond Issue |
|---|
|
| The basics |
| Election date: |
| October 8, 2019 |
| Status: |
 Approved
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| Topic: |
| City bonds |
| Related articles |
| City bonds on the ballot October 8, 2019 ballot measures in North Carolina Chatham County, North Carolina ballot measures Other counties Local Transportation on the ballot |
| See also |
| Cary, North Carolina |
A bond issue was on the ballot for Cary voters in Chatham and Wake counties in North Carolina on October 8, 2019. It was approved.
| A yes vote was a vote in favor of authorizing the town to issue up to $113 million in bonds to fund transportation improvements and authorizing the town to raise taxes to pay off the bonds. |
| A no vote was a vote against authorizing the town to issue up to $113 million in bonds to fund transportation improvements and authorizing the town to raise taxes to pay off the bonds. |
The town of Cary had two bond financing issues on the October 8, 2019 ballot. Cary proposed to borrow a total of $225 million between this measure and the Parks and Recreation Bond Issue over seven years.
At the time of the election, Cary's general fund debt service was approximately $17.2 million per year, which was 10 percent of the town's annual operating expenses. The town council did not provide an estimate of property tax rates based on the approval of the bond issue.[1]
Election results
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Cary Transportation Bond Issue |
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|---|---|---|---|---|
| Result | Votes | Percentage | ||
|
|
13,213 | 79.72% | ||
| No | 3,361 | 20.28% | ||
Text of measure
Ballot question
The ballot question was as follows:[2]
| “ |
Shall the order adopted on July 18, 2019, authorizing $113,000,000 TRANSPORTATION BONDS of the Town of Cary, North Carolina, plus interest, for the purpose of providing funds, together with any other available funds, for various transportation related improvements inside and outside the corporate limits of said Town, including, without limitation, improvements to streets and sidewalks, bridges and overpasses, parking and bicycle facilities, the installation of traffic controls, markers and signals, streetscape improvements and the acquisition of any related land, rights of way and equipment, and providing that additional taxes may be levied in an amount sufficient to pay the principal of and interest on said bonds, be approved?[3] |
” |
Support
Shaping Cary's Tomorrow led the support campaign for both bond issues on the ballot.[4]
Opposition
If you know of opponents or arguments that should be posted here, email editor@ballotpedia.org.
Background
Transportation improvements
The Imagine Cary Community Plan divides the bond issue across these various projects:[5]
- $14 million for the street improvement project,
- $28.7 million for road widening,
- $23 million for North Carolina Department of Transportation enhancements,
- $13 million for sidewalk improvements,
- $1 million for North Carolina Highway 55 pedestrian grade separation,
- $5 million for intersection improvements,
- $5 million for downtown parking improvements, and
- $22.3 million for Fenton infrastructure.
Bond issue limit
In their annual budget discussion on May 9, 2019, the Cary Town Council decided that bond issues would not exceed a total of $225 million, $112 million for parks and $113 million for transportation. The most recent approved bond issues were in 2012 for $80 million and were used to fund fire, transportation, and park projects. The town reported that these projects are in progress or complete.[6]
Path to the ballot
This measure was put on the ballot through a vote of the Cary Town Council.[7]
- May 23: Voted unanimously in favor of 2019 Bond Referendum Preliminary Findings Resolution
- June 27: Set public hearing date to consider bond issues for July 18
- July 18: Bond orders and resolution calling for a bond referendum were approved after a public hearing
See also
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External links
Footnotes
- ↑ Shaping Cary's Tomorrow, "FAQ's," accessed September 19, 2019
- ↑ Chatham County Board of Elections, "Official Election Notice, 2019 Municipal," accessed September 3, 2019
- ↑ Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
- ↑ Shaping Cary's Tomorrow, "Home," accessed September 19, 2019
- ↑ Shaping Cary's Tomorrow, "Transportation Bond," accessed September 19, 2019
- ↑ Shaping Cary's Tomorrow, "FAQ's," accessed September 19, 2019
- ↑ Town of Cary, "2019 General Obligation Bond Referendum," accessed September 25, 2019
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