BRADENTON, Fla. Voters in gilt-edged Raleigh and Wake County, N.C., approved selling a total of $885 million of general obligation bonds for schools and transportation projects.
The GO bonds were authorized in two separate referendums on Oct. 8.
Some 58% of voters in Wake County cast 56,671 ballots approving the sale of $810 million in bonds to help finance a $939.9 million capital improvement plan proposed by the county’s fast-growing school district. Another 41,530 voters said no to the question.
The bonds will be issued by Wake County to fund the school CIP over the 2014 to 2017 planning period. In North Carolina, counties sell bonds for school districts.
The Wake County Public School System is the 16th-largest in the nation, and was projected to have 152,684 students this fall - nearly 3,200 more than last year.
The district has grown by an additional 21,000 students since voters approved a $970 million GO bond issue in 2006, its largest ever. All of the debt approved in 2006 has been sold.
In Raleigh, the state capital, 70% of city voters casting ballots approved $75 million of GOs for more than a dozen major road and smaller transportation projects.