Bond Project

General Obligation Bond Header

Reasons to issue bonds:

​Financial Flexibility
      Project costs are spread over time rather than increasing taxes to cash fund projects
      Assures equitable payment for capital improvements over a period of time​

City of High Point Obligation Bonds:

Planned $50 Million bond issue for:
Parks and Recreation
Affordable Housing

  Requires no tax rate increase per long-range plan developed by Staff and Davenport and Company
  General Obligation Bonds are backed by full faith and credit of The City of High Point

Bond Project

Road Projects - $22 Million
Parks and Recreation Projects - $21.5 Million
Affordable Housing - $6.5 Million

Total:         $50 Million

Bond calendar
June 17, 2019 
Council adopts resolution directing publication of Notice of Intent to apply to LGC, and authorizing the Finance Officer to file an application to the LGC for approval of the bonds

July 15, 2019
Council introduces bond orders and adopts resolution setting a public hearing on bond orders for August 19, 2019

August 19, 2019
Council holds public hearing on bond order, adopts bond order and adopts resolution setting the Special Bond Referendum

November 5, 2019
Bond Referendum Election

December 2, 2019
Council adopts resolution certifying and declaring results of referendum