A school bond referendum will be placed on the election ballot for Tuesday, November 4, 2014, for the purpose of constructing new schools.
What is a bond?
The sale of municipal bonds is a form of long-term financing that spreads the cost of major capital improvements over a number of years, much like a home mortgage. This method of financing also ensures both current and future users of the facility help pay for its construction.
Why are bonds needed?
According to state law, the building of schools cannot be financed through the school district's normal operating funds, (general fund) but rather through bonds which the public votes upon. In addition, much like families need to utilize a home mortgage, it is impractical to finance the construction of a school in a single year or short period of time.
Why a referendum?
State law requires that voters approve general obligation bonds before they can be issued. Residents of Harnett County may vote if they are registered and 18 years of age or older on election day.
Why is there a need for a school construction bond referendum in Harnett County?
The answer is simple - GROWTH! According to the US Census Bureau, Harnett County is one of the top five fastest growing counties in North Carolina and has been top ranked in growth for a decade. The student population has steadily increased and the school system has seen an increase of students annually. HCS currently has approximately 20,400 students enrolled. Harnett County Schools currently has 219 mobile classrooms serving approximately 3,900 students in the district.
How were facility needs determined?
Facility needs were determined by growth and the capacity limits of the existing schools. Adding mobile classrooms to schools already over capacity does nothing but further overcrowd the cafeterias, gyms, hallways and media centers.
What effect will the bonds have on the property tax?
It is projected that the $100 million bond referendum could potentially result in, at most, a 12.5 cent tax increase to the county’s property rate over the life of the bond. The cost to the average household in Harnett County would be less than $16 per month.
What will the $100 million bond provide?
The bond would provide Harnett County with two new schools and additions to three existing schools.
Highland High - $63,405,000
Will serve 1,085 students.
Central Area Middle - $32,540,000
Will serve 1,000 students.
Additions to Existing Schools
Highland Elementary Addition
$715,000 Cafeteria Expansion
Johnsonville Elementary Addition
$1,602,500 Cafeteria Expansion
Overhills Elementary Addition
$1,737,500 Additional Classroom Wing
School Bond Referendum Literature
School Bond Referendum Flyer
School Bond Card Page 1
School Bond Card Page 2