2024 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: Why do we need bonds to build/renovate schools?
A: School renovation and construction projects are very expensive to fund at one time. Bonds spread the cost of major capital improvements over a number of years. This is similar to securing a mortgage on a home and spreading the cost of home buying over a period of years.
Q: How much is this bond worth?
A: $120 million for Johnston County Public Schools and $30 million for Johnston Community College.
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.
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: I don't have students in JCPS or JCC, why should I be concerned about this bond?
A: Everyone benefits when we value education. Improvements increase safety, support evolving educational practices, modernize aging facilities and directly improve the quality of life in Johnston County. With a successful bond, more projects will move up on the priority list for capital needs and future bonds. JCPS and JCC are committed to ensuring that all students receive a quality education in safe and efficient learning environments.
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