Title
Public Hearing on General Obligation Bond Referendum
Action
Action:
A. Conduct a public hearing on the bond orders which would be authorized at the General Obligation Bond Referendum to be set for November 3, 2026,
B. Adopt Bond Orders introduced for $280,000,000 of Transportation Bonds, $20,000,000 of Neighborhood Improvement Bonds, and $125,000,000 of Housing Bonds, and
C. Adopt a resolution setting the General Obligation Bond Referendum for November 3, 2026.
Body
Staff Resource(s):
Matthew Hastedt, Finance
Mitali Shah, Finance
Explanation
* On June 8, 2026, City Council approved:
* The Fiscal Year (FY) 2027 Budget and FY 2027-2031 Capital Investment Plan, which includes a $425,000,000 bond referendum on November 3, 2026; and
* Resolutions authorizing staff to proceed with actions necessary to conduct a General Obligation Bond Referendum.
* On June 22, 2026, City Council:
* Introduced the bond orders for each of the ballot questions; and
* Approved a resolution setting a public hearing for each of the bond orders for the August 10, 2026, business meeting.
* The current action is the third of four City Council actions. This action will specifically:
* Hold a public hearing on each bond order;
* Adopt bond orders for $280,000,000 of Transportation Bonds, $20,000,000 of Neighborhood Improvement Bonds, and $125,000,000 of Housing Bonds; and
* Approve a resolution setting the bond referendum for November 3, 2026, and direct staff to publish notice of the referendum.
Next Steps
* The Local Government Commission is scheduled to consider the referendum for approval at its January 2027 meeting.
* After November 3, 2026, City Council will be asked to adopt a resolution certifying and declaring the results of the special bond referendum. This action will occur after the Mecklenburg County Board of Elections certifies the results of the vote.
Fiscal Note
Funding: Municipal Debt Service Fund
Attachments
Attachment(s)
Bond Orders
Resolution setting Notice...
Click here for full text