If the Board can use other financing options, why have a referendum at all?

Issuance of bonds is an additional means of financing capital projects. Virginia law requires that in order for General Obligation bonds to be considered and used as a mean of financing by the County, Goochland voters must have an opportunity to vote either YES or NO on each bond question. If there are more YES votes on a question, then the Goochland County Board of Supervisors will be authorized to sell bonds for the purposes described in the ballot question. If there are more NO votes on a question, the County cannot issue general obligation bonds to finance the projects described in the question, but could instead find alternative means to fund the projects.

Show All Answers

1. What will I be voting on November 2?
2. Why a referendum?
3. What are bonds? How do they work? Do we have to pay them back?
4. What types of bonds are used by the County?
5. What distinguishes General Obligation (GO) bonds from other types of bonds?
6. Will the bonds be issued all at once?
7. What is the timeframe for the issuance of the bonds?
8. If a bond referendum fails, does that mean the proposed projects will not be done?
9. What happens if the referendum doesn’t pass?
10. If the Board can use other financing options, why have a referendum at all?
11. If the bond referendum passes, does that guarantee that the bonds will be issued and the projects will be done?
12. Can the money from the bonds be used for other purposes?
13. What happens if one bond question passes and the other one doesn’t?
14. If the County issues these General Obligation bonds for the identified projects, how will it fund other capital projects in the Capital Improvement Program?