If the Bond passes, what will it cost?

The annual debt service on a $50 million bond would be approximately $4.2 million each year. The County has eight years to access the bond funding and will not issue all $50 million at one time. The selected project list could be completed with the bond amount in conjunction with other funding sources. Stafford County enjoys a Triple-AAA bond rating and, as a result, should be able to obtain competitive interests rates on its bonds. The debt payments associated with the bond package fit within the County’s current debt capacity.  The County has four revenue streams dedicated to transportation, including gasoline sales tax, state recordation tax, interest earnings and transportation impact fees.  If these funds are insufficient to pay the debt service, money would come from the General Fund. The debt service is spread out over several years based on the timing of construction, as the County only issues bonds as needed.  

Show All Answers

1. What is a referendum, and why are we having one?
2. What is bond financing?
3. If the Bond passes, what will it cost?
4. Will the approval of this bond package affect the County’s financial health?
5. Once approved, can the bonds be used for other purposes?
6. How were the road projects included in the 2019 transportation bond referendum selected?
7. What is the difference between major projects and safety widening projects?
8. What steps were taken to arrive at the need for a transportation bond referendum?
9. How were the road project costs determined?
10. If the referendum passes, what are the next steps?
11. Without the bond referendum, how is Stafford planning for future transportation improvements?
12. What was accomplished with the 2008 transportation bond referendum?