Cabarrus County voters will be asked to vote on three bond referendums in this election totaling $440 million. This brochure from The Chamber, Leading Business in Cabarrus (which is a sponsor of The Election Hub) provides more detail about how public education is funded and the role that bonds play in educational funding in general and within Cabarrus County.
$340 Million Bond for Education
The largest bond, requesting $340M, would be issued by Cabarrus County to construct, renovate, expand, improve and equip school buildings and other school facilities, including public elementary, middle and high schools in Cabarrus County. The top item on the list is a replacement for Central Cabarrus High School.
The maximum estimated cost of the bond over time with interest is expected to be $530M and taxpayers will see an increase of $42.50 for every $100,000 of property tax value.
Proponents of the bond include the county commissioners and the business community because of the connection between strong schools and economic development driven by new and existing private companies.
No groups have consolidated efforts against these bonds, but there are usually people opposed to tax increases.
More detail about the bonds are available here.
$60 Million Bond for Rowan-Cabarrus Community College
There is also a smaller bond referendum that asks voters to approve $60M in spending to construct, renovate, expand, improve and equip community college facilities for Rowan-Cabarrus Community College (RCCC). Here is a list of the complete needs, which exceed the bond for RCCC.
The maximum cost of this bond over time with interest is estimated to be $94 million, and taxpayers will see an increase of $7.50 for every $100,000 of property tax value.
Proponents of the bond include the county commissioners and the business community because of the connection between strong local job force training and economic development driven by new and existing private companies.
No groups have consolidated efforts against these bonds, but there are usually people opposed to tax increases.
More detail about the bonds are available here.
$40 Million Park Bond for Kannapolis
Kannapolis voters will decide on a $40 million bond to fund the construction of new parks, the extension of an existing greenway and other parks and recreation initiatives including athletic fields and playgrounds. The full text of the bond referendum is here.
Specific projects include Eastside Park, Westside Park, Greenways and Gem Theatre.
The maximum cost of the bond with interest is estimated to be $62 million and taxpayers will see an increase of $46 for every $100,000 of property value.
Proponents of the bond include the city council and the business community because of the connection between making a community attractive to live, work and play and economic development driven by new and existing private companies.
No groups have consolidated efforts against these bonds, but there are usually people opposed to tax increases.
