- Stafford County voters will be asked to consider a $50 million transportation bond referendum.
- The meeting takes place at 6 p.m. in the Board Chambers of the George L. Gordon, Jr., Government Center, 1300 Courthouse Road, Stafford, VA 22554.
- Residents should also expect to see a mailer in the next few weeks providing additional information and resources to make an informed vote in the November 5, 2019 General Election.
- While the referendum sets maximum limits for borrowing money, the County is not required to borrow the full amount.
- If the proposed transportation bond is approved by voters, projects will be initiated, constructed and financed over several years.
- Stafford County is among only 47 counties in the nation that have the highest credit rating possible for a local government, and the County’s Triple-AAA bond rating lowers its borrowing costs.
- The County has four revenue streams dedicated to transportation, including gasoline sales tax, state recordation tax, interest earnings and transportation impact fees.
- By monitoring the annual spending needs and not issuing all the bond debt at one time, the County can draw from these funding sources to pay the debt service.
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