Title
General Obligation Bond Referendum
Action
Action:
Adopt resolutions authorizing staff to proceed with the necessary actions to conduct a general obligation bond referendum on November 3, 2026.
Body
Staff Resource(s):
Matthew Hastedt, Finance
Mitali Shah, Finance
Explanation
§ City Council is scheduled to adopt the Fiscal Year 2027 Budget and Fiscal Years 2027-2031 Capital Investment Plan at the June 8, 2026, Business Meeting. The plan includes a $425,000,000 general obligation bond referendum on November 3, 2026.
§ This proposed referendum includes $280,000,000 of street bonds, $125,000,000 of housing bonds, and $20,000,000 of neighborhood improvement bonds.
§ The statutory requirements for the legal process include applying to the Local Government Commission for approval, holding a public hearing on the proposed bond orders, setting of the special referendum, and certification of the results.
§ The current action is the first of three Council actions associated with the 2026 Bond Referendum. This first action will specifically authorize:
- Publication of a notice of intent to apply to the Local Government Commission;
- Application to the Local Government Commission; and
- Certain statements of facts concerning the proposed bonds.
Next Steps
§ On June 22, 2026, the bond orders will be introduced, and Council will be asked to set a public hearing on the bond orders for August 10, 2026.
§ On August 10, 2026, Council will be asked to hold a public hearing on each of the bond orders, approve the bond orders and set a bond referendum for November 3, 2026.
§ After November 3, 2026, Council will be asked to adopt a resolution certifying and declaring the results of the special bond referendum after the Certificate of Canvass is signed by the Mecklenburg Board of Elections.
Fiscal Note
Funding: Municipal Debt Service Fund and General Capital Investment Plan
Attachments
Attachment(s)
Resolution - Notice of Intent to Apply - 2026 GO Referendum
Resolution - Statement of Facts - 2026 GO Referendum