Question 1 - Public Libraries Bond Referendum

Additional property taxes may be levied on property located in the County of Wake, North Carolina in an amount sufficient to pay the principal and interest on bonds if approved by the following ballot question. Shall the order adopted on July 8, 2024, authorizing $142,000,000 LIBRARY BONDS of the County of Wake, North Carolina, plus interest, for the purpose of providing funds, together with any other available funds, for acquiring, constructing, expanding and renovating library buildings and other library facilities, both fixed and mobile, and the acquisition of related land, rights of way and equipment, and providing that additional taxes may be levied in an amount sufficient to pay the principal of and interest on said bonds be approved, in light of the following: (1) The estimated cumulative cost over the life of said bonds, using the highest interest rate charged for similar debt over the last 20 years, would be $217,884,800, consisting of the $142,000,000 principal amount of said bonds plus $75,884,800 of estimated interest. (2) The estimated amount of property tax liability increase for each one hundred thousand dollars ($100,000) of property tax value to service the cumulative cost over the life of said bonds would be $2.50 per year. Additional property taxes may be levied on property located in the County of Wake, North Carolina in an amount sufficient to pay the principal and interest on bonds if approved by the following ballot question. Shall the order adopted on July 8, 2024, authorizing $142,000,000 LIBRARY BONDS of the County of Wake, North Carolina, plus interest, for the purpose of providing funds, together with any other available funds, for acquiring, constructing, expanding and renovating library buildings and other library facilities, both fixed and mobile, and the acquisition of related land, rights of way and equipment, and providing that additional taxes may be levied in an amount sufficient to pay the principal of and interest on said bonds be approved, in light of the following: (1) The estimated cumulative cost over the life of said bonds, using the highest interest rate charged for similar debt over the last 20 years, would be $217,884,800, consisting of the $142,000,000 principal amount of said bonds plus $75,884,800 of estimated interest. (2) The estimated amount of property tax liability increase for each one hundred thousand dollars ($100,000) of property tax value to service the cumulative cost over the life of said bonds would be $2.50 per year.