The referendums are:
- Libraries - $90 million.
- Parks - $112 million.
- Community and Health and Human Services - $79 million.
- Transportation - $160 million.
The board’s action allows the county to petition the Fairfax Circuit Court to order the referendums. If ordered, they will be on the Nov. 3, 2020, general election ballot. Under state law, the county must petition the court to put the referendums on the ballot.
Voters will be asked to vote “yes” or “no” on each of the four bonds. If ultimately approved, the county plans to sell general obligation bonds to renovate, expand or improve facilities and pay for the county’s contributions to the Northern Virginia Regional Park Authority and Washington Metropolitan Area Transit Authority.
By law, the money from the bonds may only be used for the purpose stated in the ballot question. For example, the money from the parks bond may not be used to pay for public safety projects.
If approved by voters in November, the county plans to use bond funds for the following projects:
Four libraries are planned for renovations and upgrades:
- Patrick Henry Community ($23 million).
- Sherwood Regional ($18 million).
- George Mason Regional ($15 million).
- Kingstowne Regional ($34 million - current community library proposed to be replaced with new regional library).
Of the $112 million proposed, the Fairfax County Park Authority will use $100 million to finance:
- Park renovations and upgrades, including athletic fields, RECenters and golf courses.
- Land acquisition to expand parks.
- Natural and cultural resource stewardship.
- New park development.
The remaining $12 million is intended to fund the county’s share for the Northern Virginia Regional Park Authority’s capital program that focuses on:
- Expanding public open space and trails.
- Protecting natural, cultural and historic resources.
- Improving existing facilities.
- Providing additional recreational opportunities.
Health and Human Services
Two facilities are planned for renovations or upgrades:
The $160 million bond will pay for Fairfax County’s share of Metro’s capital improvement program. This program focuses on rehabilitating and modernizing the Metrorail system, including purchasing new railcars and buses and building a new bus garage.
County's Triple-A Rating
Fairfax County has the highest credit rating possible for any government: triple-A from Moody’s Investors Service Inc.; from Standard & Poor’s Corporation; and from Fitch Ratings. For this reason, the county’s bonds sell at relatively low interest rates compared to other tax-free bonds.
# # #