Orange County Commissioners say a possible $125 million dollar bond package may be the best way to fund repairs for aging schools.

“I don’t see an option on the needs of the schools,” said Board Chair Earl McKee, speaking at a planning retreat on Friday. “I don’t think we’ve got an option. We’ve got schools that are 50 or 60 years old.”

The Chapel Hill-Carrboro and Orange County school systems have compiled a list of capital projects totaling more than $330 million dollars to repair or replace outdated facilities and expand some schools to add capacity.

Commissioners on Friday moved closer to putting a bond referendum on the ballot that would partially fund those repairs, though the board did not formally vote at the retreat.

The proposed $125 million dollar bond package would be the largest in Orange County history, and the first since voters approved a $75 million dollar package back in 2001.

Commissioners and staffers discussed the pros and cons of using pay-as-you go funding for the repairs instead, but Commissioner Barry Jacobs said a successful bond package would represent voter support and a firm commitment from the board.

“If we’ve already told the voters, ‘this is what we want you to do’ and they say ‘yes’, then you’ve made a different level of commitment,” said Jacobs. “In a way you box yourself in, but in a way you hopefully have some more buy-in than would normally be the case.”

Deputy Finance Director Paul Laughton told the board both funding methods would likely result in a tax rate hike, as there’s not enough projected growth in revenues to cover the debt service on either type of borrowing.

Laughton estimated the bond package would ultimately translate to a 4.6 cent increase on the property tax rate, to be spread out over the course of several years.

While Commissioners indicated they’re almost ready to move forward with planning for the referendum, some expressed concern that Chapel Hill voters in particular might not warm to the idea, as the town is considering its own bond referendum in 2015.

Commissioner Renee Price said she’s worried about voter fatigue.

“There could be so much confusion. We either win or we all lose,” said Price. “I just wanted to throw that out there, that I really think we should get all players at the table on this.”

Commissioners said if they do go ahead, they want more collaboration and support from both school districts.

“The relationship should be more than just, ‘we need this money,’ ‘we’ll give you that money,’ and here’s how we’re going to figure it out,” said Commissioner Mark Dorosin. “Obviously there are two separate elected bodies and they have separate responsibilities, but there should be more engagement on that.”

The scheduling of any future bond package would be constrained by a recent decision from the legislature to limit county referendums to even-numbered years. Commissioners are leaning toward a November referendum, because, as Board of Elections Director Tracy Reams pointed out, the 2016 primary season could get complicated.

“The North Carolina presidential primary is all dependent on the South Carolina primary,” said Reams. “If they hold theirs prior to March 15, we have to follow and hold ours a week after theirs. So we could feasibly have a February 16 possible presidential preference primary, then we will hold all the other primaries on May 3.”

Though Commissioners say schools would be the primary funding focus, the bond package would likely also include money for affordable housing projects and possibly parks.

Following a formal vote to move forward with referendum planning in February, Commissioners will likely convene a task force of residents and elected officials to work out exactly what goes on the ballot in November 2016.