Wake County, N.C., to Vote on $810M GO for Schools

BRADENTON, Fla. – Voters in Wake County, N.C., will go to the polls on Oct. 8 to decide if they will tax themselves to support $810 million of general obligation bonds to meet the needs of their fast-growing school district.

County commissioners voted Monday to set the referendum date after holding a public hearing. In North Carolina, counties issue debt for schools.

The school district’s total capital improvement program is $939.9 million, which would be supplemented by cash.

If approved by voters, the tax would cost an extra $145.72 for a home with the average assessed value of $263,500.

The construction plan includes 11 new elementary schools, three new middle schools, two new high schools, six major renovations, land acquisition for future projects, upgrades to technology and security, equipment replacement and other items.

Wake County encompasses 864 square miles in north-central North Carolina, and is the state’s second-most populous county with 952,151 residents. There are 11 municipalities, including Raleigh, the state capital.

The school district encompasses the entire county.

In the current school year, 149,508 students are enrolled in 169 schools.

By 2014, the population of Wake County is projected to exceed one million. It is already the second-fastest growing county in the country with a population of more than 500,000.

Oct. 8 is already an election day for the Wake County school board, and municipal elections in Raleigh and the town of Cary.

If the $810 million bond program is approved Oct. 8, it will be the second-largest amount of bonds ever approved by Wake County voters. In 2006, they authorized the issuance of $970 million of bonds for school capital needs, which have already been sold.

Raleigh, the Wake County seat, will hold an election on the same Oct. 8 ballot asking city voters to approve a $75 million general obligation referendum. The bonds will fund transportation projects.

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