AGENDA ITEM EXECUTIVE SUMMARY
ITEM TITLE
title
Approve the 2024 Bond Referendum Results Certification
presenter
RESPONSIBLE STAFF, TITLE, DEPARTMENT
Amy Oland, Director, Business Management Department
STAFF RECOMMENDATION
Staff recommends that Council adopt the resolution that certifies and approves the results of the November 5, 2024 Bond Referenda and directs the Town Clerk to publish a statement of results as required by state statute.
body
ACTION/DECISION POINTS
The next step in the referendum legal process is for Council to adopt a resolution to confirm the referendum results.
LEGISLATIVE CONTEXT
In the State of North Carolina, public approval is required for the issuance of most municipal general obligation (G.O.) bonds. Public approval is gained through a public vote or referendum. After the referendum, the Town Council must adopt a resolution that confirms the results of the vote and must publish a statement of those results.
BACKGROUND AND CONTEXT
The Town’s capital planning process, which includes reviewing multiple master plans, special studies, and Council’s strategic goals and priority areas, identified many large-scale projects that could be financed through G.O. bonds. These projects were aggregated by purpose, as shown below, to establish bond orders that would appear on the referendum ballot.
Affordable Housing $ 15,000,000
Public Buildings 15,000,000
Streets & Sidewalks 7,500,000
Parks & Recreation 4,500,000
Open Space & Greenways 2,000,000
$ 44,000,000
On May 15, 2024, the Council adopted the Preliminary Findings Resolution for the November 2024 G.O. Bond Referendum.
On June 5, 2024, the Council introduced each of the bond orders proposed for the November 5, 2024 referendum. The Council adopted the resolution setting a public hearing on each bond order for June 17, 2024.
On June 10, 2024, the Town’s Finance Officer filed a Sworn Statement of Debt and a Statement of Estimated Interest with the Town Clerk as required by general statutes.
On June 17, 2024, the Council held a public hearing on each of the five bond orders, adopted each bond order by separate vote, and set ballot questions and the referenda date.
On November 5, 2024, the bond referendum was held to consider five bond orders for Town capital projects totaling $44,000,000. All five bond orders were approved by affirmative vote of a majority of those who voted.
A RESOLUTION CERTIFYING AND APPROVING RESULTS OF 2024 BOND REFERENDA (2025-01-15/R-2)
WHEREAS, the Orange County Board of Elections has certified the following results of the bond referenda held in and for the Town of Chapel Hill, North Carolina, on November 5, 2024, as follows:
1. On the question of the issuance of $15,000,000 Chapel Hill affordable housing bonds, the Board of Elections has certified the following vote totals:
YES 21,003 NO 7,830
2. On the question of the issuance of $15,000,000 Chapel Hill public building bonds, the Board of Elections has certified the following vote totals:
YES 20,404 NO 8,159
3. On the question of the issuance of $7,500,000 Chapel Hill streets and sidewalk bonds, the Board of Elections has certified the following vote totals:
YES 22,535 NO 6,216
4. On the question of the issuance of $4,500,000 Chapel Hill parks and recreation bonds, the Board of Elections has certified the following vote totals:
YES 23,156 NO 5,649
5. On the question of the issuance of $2,000,000 Chapel Hill open space and greenway bonds, the Board of Elections has certified the following vote totals:
YES 23,317 NO 5,562
and it therefore appearing that in each case a majority of voters voting in referenda called for the purpose have approved the issuance of these bonds,
BE IT THEREFORE RESOLVED by the Town Council of the Town of Chapel Hill, North Carolina, as follows:
1. The Council certifies and approves these results and declares the issuance of the bonds to be authorized.
2. The Council directs the Town Clerk to publish promptly a statement of these results in the form prescribed by law.
3. The Town intends that the adoption of this resolution will be a declaration of the Town’s official intent to reimburse preliminary project expenditures from bond proceeds. The Town intends that funds that have been advanced for project costs related to any of the bonds authorized at the referenda, or which may be so advanced, from the Town’s general fund, its debt service fund, or any other appropriate Town funds, may be reimbursed from the proceeds of the bonds when issued.
This the 15th day of January, 2025.
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