Will the approval of this bond package affect the County’s financial health?

Stafford is among only 47 counties in the nation that have the highest credit rating possible for a local government from Moody’s Investors Service Inc.; from Standard & Poor’s; and from Fitch Ratings. The County’s Triple-AAA bond rating lowers its borrowing costs. The County’s financial guidelines state that the annual debt service should not exceed 10% of General Government expenditures and total outstanding debt should not exceed 2.75% of the total market value of the taxable real property. The proposed bond package stays within these guidelines, maintaining a balance between operating expenses and long-term capital needs.

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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?