Voters in several Charlotte-area counties were asked to approve nearly $1 billion worth of bond referendums, primarily targeting schools and neighboring counties in South Carolina. The largest of those bond votes, a $588 million bond proposal in Lancaster County, failed, according to unofficial results. Late Tuesday, votes were still being counted elsewhere.
When a government or school district issues a bond, it’s similar to spending on a credit card or taking out a mortgage. The government sells bonds to borrow money, pay for the project, and then repays the bondholders (with interest) over the next few years. tax revenue.
York School District No. 1 Bond
The York School District is seeking voter approval to issue $90 million worth of bonds to fund construction of a new middle school, real estate acquisition and renovation of school facilities.
York County, with only five of its 17 precincts voting, had a 63.7% “yes” lead as of 9:30 p.m.
Lancaster County School Bonds
Lancaster County voters rejected a $588 million school bond proposal by a narrow 60% to 40% margin. This would have funded the construction of several new schools in the district, the renovation of existing schools, and the addition of surveillance cameras with facial recognition to all schools.
Chester County School Bonds
In Chester County, voters will have the opportunity to say yes or no to the $227 million request. The bond package will fund new and expanded high schools and renovations of existing schools.
As of 9 p.m., only five of the 21 precincts had reported, and the vote appeared to be close, with “no” leading with 53.8% of the vote.
Union County, North Carolina School Bonds
Union County Public Schools taxpayers will have to decide whether to greenlight a $39 million bond package to address some of the district’s aging facilities, school officials said.
In Union County, 51 of 54 precincts reported and 55% of voters supported the measure.
South Carolina voters also have two major transportation bonds on their ballots:
York County Transportation Sales Tax
York County voters will be asked to approve a 1-cent sales tax increase that will last for seven years in the latest in the county’s “Penny for Progress” program. The proceeds will fund major road projects in the county, including widening Route 21 and improving dozens of intersections. The total cost of the project will be approximately $411 million.
Only 12 of the 100 precincts reported, with 72% of voters leaning toward approving the referendum.
Lancaster County Transportation Sales Tax
In Lancaster County, voters opposed a 1-cent sales tax increase over 15 years to fund $405 million worth of transportation improvements. Big-ticket items in the package included widening Highway 521, widening Harrisburg Road and widening Henry Harris Road, as well as remodeling dozens of intersections, resurfacing roads, and new roundabouts. Separately, voters opposed up to $250 million worth of bond spending for additional transportation projects, borrowing money up front and quickly starting spending on projects like the 521 widening.
