2022 Bond Referendum FAQs
Q: What is a bond and how will this type of financing be used?
A: Local and state governments borrow money by issuing bonds to finance major capital projects that are above and beyond the scope of the annual budget process. A general obligation bond is a long-term borrowing in which a County pledges its full faith and credit (taxing power) to repay the debt over a specified term.
Q: How much is this bond worth?
A: $177 million.
Q: Why should I vote for the bond?
A: Bonds allow governments to finance the cost of building over a long period of time, much like the financing for a home mortgage. Johnston County is very secure financially and can afford to pay off the bonds currently without a tax increase. If the people do not pass the bond, then the county commissioners will have to use other means of funding the buildings which will be short term.
Q: Will my taxes increase due to the bond commitment?
A: While general obligation bonds are secured by the taxing power of the County, there are currently no plans to raise ad valorem tax rate to repay the bonds.
Q: What will happen if the bond referendum does not pass?
A: Currently, 72% of schools are at or over capacity, and Johnston County Public Schools enrollment will continue to grow. Mobile units are currently at these school sites across the county to provide additional capacity for these schools. As the school system continues to grow, additional mobile units will need to be added to school sites.
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