HomeMy WebLinkAboutC.054.93009_0226 (2)bond referendum on November 2, 1993;
except Jim Coble, residing at Iredell County. North Carolina,
who appeared in person and stated he was in favor of the
bond referendum on November 2, 1993;
except Carl Clendenin, residing at Iredell County, North
Carolina, who appeared in person and stated he was in favor of the
bond referendum on November 2, 1993;
except Buddy Hemric, residing at Iredell County. North
Carolina, who appeared in person and stated he was against the
bond referendum because of the interest payments;
except Ed Dearman, residing at Iredell County, North Carolina,
who appeared in person and stated he was in favor of the
bond referendum;
except Doug Eason, residing at Iredell County, North Carolina,
who appeared in person and stated he was in favor of the
bond referendum;
except Mike Overcash, residing at Iredell County. North
Carolina, who appeared in person and stated he was against the
bond referendum because it was too big of an increase in taxes;
except Lena Gray, residing at Iredell County. North Carolina,
who appeared in person and stated she was in favor of the
bond referendum;
except Debra Holcomb, residing at Iredell County, North
Carolina, who appeared in person and stated she was in favor of the
bond referendum;
except Cindy Leonard, residing at Iredell County North
Carolina, who appeared in person and stated she was in favor of the
bond referendum;
except Alice Holbrook, residing at Iredell County. North
Carolina, who appeared in person and stated she was in favor of the
bond referendum.
All of the foregoing statements were duly considered by the
Board of Commissioners.
PUBLIC HEARING CLOSED BY CHAIRMAN HAIRE
Thereupon, upon motion of Commissioner Haire, seconded by
Commissioner Stewart, the order introduced and passed on first
reading on August 17, 1993 entitled "ORDER AUTHORIZING $36,285,000
SCHOOL BONDS" was read a second time by title and placed upon its
final passage.
PREPARED STATEMENT FROM COMMISSIONER BOONE:
We are taking final action tonight on a General Obligation
Bond Referendum. This is an appropriate time to spell out the
consequences of an affirmative vote. By that I mean an affirmative
vote at the polls, not on scheduling the referendum, which we will
do. If the bond issue passes, Iredell County will incur an
additional $41 million in debt. We already owe over $18 million in
long-term debt that will be paid for with future ad valorem tax
revenues. A total debt of $59 million computes to $613 per capita,
almost double the statewide average of $322 per capita, and would
constitute 1.21% of the county's tax base, far exceeding the
state's average .86%.
These figures do not include $10 million of Special Obligation
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