2013 Public School Bond Referendum: Explanation of Projects to Be Funded
Fairfax County bonds are planned to fund specific projects—and by law, bonds may not be used for any purpose other than what is stated the referendum question. The explanation below offers more details on the public school's plans for the bond money if the referendum is approved by voters.
Virginia law permits the Fairfax County Government to borrow money to buy land and/or construct projects by issuing general obligation bonds. General obligation bonds are sold to investors, and the bonds are repaid over time with future county revenues. The money received from the sale of the bonds is used as a source of funding for many county facilities. Bond financing permits the costs of those county facilities to be repaid over a period of years. However, prior to incurring such a county general obligation debt, the voters of the county must authorize the county to borrow those funds.
The question being presented in this referendum asks the voters of the county whether the county government should be authorized to contract a debt and issue bonds in the maximum amount of $250,000,000 for a range of planned improvements to the county’s public schools and support facilities. If this question is approved by a majority of the voters who vote on this question and bonds are sold, then the proceeds from the sale of such bonds must be used for the purposes set forth in the ballot question. These funds will be used to construct new schools, plan and design projects, supervise construction, add onto and renovate existing school facilities, and make other physical repairs and improvements. More specifically, the county’s current plans for the use of the proceeds of bonds that may be authorized by this referendum are set forth below. The county may in the future alter these specific plans, but in such a case the county would have to use the bonds for a purpose described in the ballot question.
Construction of two new elementary schools, construction and/or planning of additions and other modifications at one existing elementary and one existing high school and site acquisition funds in order to address enrollment increases in certain areas of the County and overcrowding at certain schools.
Planning and/or construction of renovations of 17 elementary schools, two middle schools, and three high schools.
Includes funding for replacements and improvements to facility infrastructure such as: roofs, major mechanical systems, parking lots, security systems, technology systems, athletic infrastructure, and upgrades to comply with the Americans With Disabilities Act.
This explanation was prepared in accordance with Virginia Code § 24.2-687.