What happens if the referendum doesn’t pass?

If one or both of the bond referendum questions does not receive more YES votes than NO votes, the County cannot issue general obligation bonds to fund the identified projects. General obligation bonds are not the only funding source available; the County could pursue the projects with alternative funding sources. However, general obligation bonds traditionally carry lower overall borrowing costs when compared to other funding options and therefore are considered the most prudent method to finance long-term capital projects.

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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?