Potential General Obligation Bonds

  1. Overview
  2. FAQs
  3. Video

On Tuesday, May 23, 2017 the Davidson Board of Commissioners decided to move forward with considering the use of general obligation bonds to find transportation, greenway, and parks projects.


May 23, 2017 General Obligation ("GO") Bond Presentation

GO Referendum Schedule

June 13, 2017 Actions Davidson GO Referendum

Possible Bond Projects


At the June 13, 2017 meeting, the board of commissioners passed three resolutions to move forward, allowing a bond order to be introduced at the July 11 meeting. Also in July, the board of commissioners passed a public hearing resolution and set the date for the hearing, scheduled for August 8. On August 8, the board of commissioner voted to put the three bond referenda on the November 7, 2017 ballot to allow citizens to vote.


August 8: Finance Director Pieter Swart presented on the potential use of general obligation bonds to accelerate mobility (transportation), greenway, and parks and recreation projects. The Davidson Board of Commissioners held three public hearings, one for each project category and heard comments from several citizens on the following:
•Public hearing on the mobility bond order:  The bond orders include the issuance of up to $6,000,000 in general obligation mobility/transportation bonds
•Public hearing on the greenway bond order:  The bond orders include the issuance of up to $5,000,000 in general obligation greenway bonds
•Public hearing on parks and recreation bond order:  The bond orders include the issuance of up to $4,000,000 in general obligation parks and recreation bonds


Presentation from August 8, 2017


Questions to appear on November 7, 2017 ballot:

  1. “SHALL the order authorizing $6,000,000 of bonds plus interest to provide funds to pay

the capital costs of constructing, reconstructing, enlarging, extending, widening, paving,

resurfacing, grading and improving certain streets, roads, roundabouts, intersections,

pedestrian sidewalks and bicycle lanes, including traffic and safety controls, signals,

markers, lighting, related landscaping and streetscaping and the cost of any related studies,

plans and design related thereto; and the acquisition of land, rights-of-way in land and

easements therefor, and providing that additional taxes may be levied in an amount

sufficient to pay the principal of and interest on the bonds be approved?”;

with squares labeled “YES” and “NO” beneath or beside such words in which squares the

voter may record his or her choice on the question presented; and

2.“SHALL the order authorizing $5,000,000 of bonds plus interest to provide funds to pay

the capital costs of developing and preserving new and existing greenways, public open

space and walking trails, including multi-use paths and protected bicycle lanes and the cost

of any related landscaping, studies, plans and design related thereto; and the acquisition of

land, rights-of-way in land and easements therefor, and providing that additional taxes may

be levied in an amount sufficient to pay the principal of and interest on the bonds be

approved?”;

with squares labeled “YES” and “NO” beneath or beside such words in which squares

the voter may record his or her choice on the question presented; and

3.“SHALL the order authorizing $4,000,000 of bonds plus interest to provide funds to pay

the capital costs of acquiring, constructing, renovating, expanding and improving various

parks and recreation facilities, including constructing, paving, resurfacing, grading and

improving certain parking lots related thereto; acquiring land for future parks and

recreation facilities; and acquiring any necessary furnishing and equipment, rights-of-way

in land and easements therefor, and providing that additional taxes may be levied in an

amount sufficient to pay the principal of and interest on the bonds be approved”;

with squares labeled “YES” and “NO” beneath or beside such words in which squares

the voter may record his or her choice on the question presented

Chartwith various property values

If the Davidson Board of Commissioners move ahead with the public facilities project, and if voters approve all three GO Bond referenda, this would be the effect on the tax rate and tax payments for someone with a home valued at $500,000:

How Affect Chart