Transportation Bond Referendum on Nov. 2 Ballot
Oct. 26, 2010
On Nov. 2, Fairfax County voters will be asked to vote yes or no on a $120 million transportation bond referendum.
If approved, the county will sell bonds to pay its contractual obligation to fund the Washington Metropolitan Transportation Authority’s Capital Improvement Program. If not approved, the county will need to cut other programs and services to pay for its required contribution.
Metro's six-year program will fund improvements, including:
- Buying 400 new Metrorail cars and 500 Metrobuses
- Building new bus garages, including one in Fairfax County
- Maintaining or rehabilitating Metro's equipment, vehicles, tracks and facilities
The program's highest priority is to improve safety, including adding new safety features to existing trains and buses; replacing the oldest trains and buses; and fixing the track signal system.
Because the county carefully plans its bond sales, the proposed transportation bonds will not cause a tax increase.
Fairfax County is currently one of only eight states, 37 counties and 37 cities to hold a Triple-A rating from all three rating agencies. For this reason, the county’s bonds sell at low interest rates — even compared to other tax-free bonds. Since 1978, the county has saved taxpayers $451.467 million as a result of the Triple-A rating.
Contact: Merni Fitzgerald, Director, Office of Public Affairs
703-324-3189, TTY 711, Media Pager: 703-324-NEWS (6397)
To request this information in an alternate format, call 703-324-3187, TTY 711