Garner Bond Program
Garner voters in the 2021 municipal election overwhelmingly approved a new bond program that will enable the Town to make strategic , fiscally responsible public investments in the years ahead that will assure superior delivery of services and a great quality of life in our community .
The election results authorize the Town to issue up to $ 69 million in Parks and Recreational Bonds , Street and Sidewalk Improvement Bonds , Public Safety and Services Facilities Bonds and Stormwater Bonds . The bonds will not be issued all at once but in several tranches over the next several years .
Garner has extremely strong bond ratings ( AAA from S & P and Aa1 from Moody ’ s ), which will enable the Town to secure comparatively low interest rates for the bonds . The bonds are the most fiscally responsible type of debt financing for large capital projects that is available to the Town . There will be a property-tax-rate increase of 2 cents per $ 100 assessed property value to finance the bonds .
Here is an overview of the four bond categories :
Parks and Recreational Bonds
As Garner continues to grow , there will be an expanding need for additional parks and recreational amenities as well as a need for improvements to some of our existing amenities .
The Parks and Recreational Bonds , totaling up to $ 35.5 million , will allow for
1 . phased development of Town-owned parkland , including the Yeargan property on East Garner Road and Meadowbrook near White Oak Road ;
2 . rehabilitation and improvements of certain existing parks and recreational facilities , including a splashpad at a yet-to-be determined site ; 3 . expansion of Garner ’ s greenway system ; 4 . and future parkland acquisition .
Street and Sidewalk Improvement Bonds
Maintaining and enhancing connectivity and mobility — both for vehicles and pedestrians — remains a critically important objective for the Town . Garner leaders intend to employ a strategic approach that will enable the Town to use local funding to leverage more state and regional monies to address roadway congestion issues .
The Street and Sidewalk Improvement Bonds , totaling up to $ 24.05 million , will enable
1 . investment in road projects including additional widening and improvements along Jones Sausage Road north of Garner Road ( design on this project is underway );
2 . installation of new sidewalks to improve connectivity of our schools , parks , neighborhoods and retail areas ;
3 . development of infrastructure to support local bus transit in Garner .
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