As Chapel Hill’s mayoral and town council races heat up, officials want to remind voters there’s a slightly less contentious issue on the November ballot.

“We haven’t done a bond in Chapel Hill for 12 years, and so a lot of people may be very unfamiliar with the process” says Town Council member George Cianciolo. “What this bond referendum does, it allows the town to have the borrowing authority for up to $40.3 million.”

When it comes time to vote, voters will need to consider each proposal separately.

The referendum proposes $16.2 million for streets and sidewalks, $5 million for trails and greenways, $8 million for recreational facilities, $5.2 million for solid waste disposal, and $5.9 million for stormwater infrastructure improvements.

Cianciolo says, if approved, the bonds would not require a tax rate increase, as town leaders have already set aside money to pay off the debt service.

“One of the things Chapel Hill did over half a dozen years ago, is it started setting aside money for its debt service, therefore, the money that is in the debt service fund will be sufficient to cover the cost of bonds without having any impact on the tax rate,” he explains.

He notes this is a long-term process, and it may be years after voters approve the measure before the town moves to borrow the money to fund the projects proposed.

If you’d like to learn more about what’s included in the bond, the town is hosting an information session today at 5 o’clock Thursday in the Council Chamber at Chapel Hill Town Hall. Find out more here.

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