Wake Forest voters approve four bond questions
On Tuesday, Nov. 8, Wake Forest voters approved all four questions on the referendum ballot for the Town of Wake Forest:
Question #1 concerning roadway and transportation improvements ($23.7 million) passed 14,940 to 4,617 (76% to 24%).
Question #2 regarding parks and recreation ($24.4 million) passed 13,783 to 5,808 (70% to 30%).
Question #3 concerning greenway improvements ($14.35 million) passed 13,226 to 6,327 (68% to 32%).
Question #4 regarding the downtown parking facility ($12.5 million) passed 10,873 to 8,586 (56% to 44%).
Overview
On November 8, Wake Forest residents will get the chance to vote on four bond referendum questions totaling $75 million.
The referenda will ask voters whether they approve of the Town’s use of General Obligation Public Improvement Bonds to fund capital projects for Parks & Recreation, Roadway & Transportation, Greenway Improvements, and Parking Facilities.
Wake Forest has an exemplary credit rating as a AAA community, giving us the ability to secure the lowest interest rates through voter-approved general obligation (G.O.) bonds. This form of debt financing is the best and least expensive of tax-supported debt resulting in significant savings to the taxpayer over the repayment period.
The Town of Wake Forest has utilized voter-approved bonds in the past. The most recent referendum was approved by voters in 2014 for $25.1 million in Parks & Recreation projects, Street & Sidewalk improvements, and Greenway improvements. All the funded projects are either complete or underway.
Bond Referendum Categories
Click the icons below for information on each referendum category/question and specific projects.