Frequently Asked Questions
About the November 5, 2013 Bond Referendum
Q: What is a bond and why do we need one now?
A. Local and state governments borrow money for various reasons and sell bonds to investors as the means of borrowing. The bonds are promises of the government to repay the investors the amount of the bonds that were sold, and a certain percentage of interest as well. Johnston County needs to build new schools, enlarge, and repair existing schools, and we need to sell bonds to pay for this work.
Q: How much is this bond worth?
A. 57 million dollars for Johnston County Schools and 7 million dollars for Johnston Community College.
Q: Why should I vote for the bond?
A. Bonds allow governments to finance the cost of building over a long period of time, much like the financing of a home mortgage. Johnston County is very secure financially and can afford to pay off the bonds without a tax increase. If the people do not pass the bond, then the county commissioners will have to use other means of funding the buildings, which will be short term and require a property tax increase.
Q: Do taxpayers pay the interest on the sale of the bonds?
Q: How long will it take to pay the bond debt?
A. The time it takes to pay off the bond debt is directly linked to how much the county can afford to pay back year by year and also how high the interest rate is at the time of the sales. The pay back could be 15, 20, or even 30 years depending on the financing package.
Q: Will my taxes increase as a result of the bond commitment?
A. No. With the present and predicted property tax funds being collected by the Commissioners, there is no need for a tax increase to pay back this money.
Q: Will my property be re-evaluated as a result of the bond?
A. No. The state requires the counties to re-evaluate all property at least every 8 years whether there is a bond referendum or not.
Q: What will the bonds buy?
A. The funds generated from the sale of the bonds will go to construct the projects as they appear on the official bond list.
Q: Why are gyms being built and renovated?
A. Several years ago, the instructional staffs listed as their number 2 concern the need for additional instructional space for physical education in the high schools. High schools that only have one gym often have as many as five classes in the same area attempting to complete the state required course.
Q: Why is technology included?
A. As a school system, we are now charged with teaching 21st Century Learners, which includes preparing children for careers that are not currently in existence. We must provide resources beyond paper and pencil to the children in Johnston County to ensure their success in a global environment. The majority of the monies set aside for technology will be used for building infrastructure.
Q: What will happen if the bond referendum doesn’t pass?
A. Johnston County Schools is currently growing at a rate of one school per year. 144 mobile units are currently at school sites across the county. We will continue to grow out of capacity of our buildings and will not be able to maintain meeting the facility needs of our students.
Q: How long does it take to build a school?
A. The design process, purchasing and prepping of land can take up to a year and then another year for construction.