Did the Fairfax County school bond pass?
Fairfax County voters by a two-to-one margin have approved a $360 million school-bond referendum.
Why does Fairfax County sell bonds?
About. We sell general obligation bonds as a way to pay for building, renovating or expanding facilities, like libraries, fire stations and parks. Voters must approve them through a referendum, and by law, the bonds, if approved, may only be used for purpose stated in the ballot question.
What’s a bond referendum?
A bond referendum is a voting process that gives voters the power to decide if a municipality should be authorized to. raise funds through the sale of general obligation (G.O.) bonds.
What is a bond initiative?
Many bond elections take the form of referenda, in which voters are asked to approve the payment of bonds through an increase in tax revenues or some dedicated source. In some states, such as California, bond initiatives appear as a proposition that appears alongside other initiatives in state law and policy.
What are school bonds used for?
A school bond election is a bond issue used by a public school district, typically to finance a building project or other capital project. These measures are placed on the ballot by district school boards to be approved or defeated by the voting public.
Where does bond money come from?
A bond is simply a loan taken out by a company. Instead of going to a bank, the company gets the money from investors who buy its bonds. In exchange for the capital, the company pays an interest coupon, which is the annual interest rate paid on a bond expressed as a percentage of the face value.
How does a bond proposal work?
A bond is a State-approved funding process for a set scope of projects. When voters approve a bond proposal, the school district sells bonds in the authorized amount and uses the proceeds of the sale to pay for those projects in the bond proposal. Bonds are usually paid back in 20-30 years.
What are the 2 types of bonds?
Ionic bonds form when a nonmetal and a metal exchange electrons, while covalent bonds form when electrons are shared between two nonmetals.
Do bonds raise taxes?
No tax increase bonds increase your taxes. Taxpayers pay off those bonds over time, usually via an increase to their property taxes. Bonds are issued for a specific period, and when they are paid off, taxpayers tax bills go down.
Do school bonds raise taxes?
Since school districts pay back the initial investment with interest, investors can earn profit when the district pays them back. School bonds offer investors a big advantage over other types of bonds: they are exempt from federal taxation and sometimes state taxation.
How do education bonds work?
Education bonds have the added benefit of a tax refund paid to the education bond provider if the bond earnings are withdrawn and used for the bond holder’s education purposes. This refund is generally passed on to the bond holder and is broadly $30 for every $70 of bond earnings withdrawn for education expenses.