Editor, Gazette-Journal:
This year’s ballot includes a bond referendum that would pay for projects to keep our community safer, renovate for better schools, and improve our parks and recreation.
Voting yes authorizes the Gloucester board to seek bonds (take out loans) totaling $39.7 million to pay for several longstanding needs. We could then pay for these projects at lower prices, rather than waiting until they have become significantly bigger needs, costing more.
Unfortunately, some false information is being shared about the referendum, and it’s important that you know what’s true. I’ll briefly address three inaccuracies being shared, and I also encourage you to visit www.gloucesterva.gov/2023-bond-referendum.
1.) Using bonds to fund capital projects is a long-standing, financially wise tool used by counties across Virginia. Our financial advisors recommend that county debt repayments not exceed 15 percent of expenditures, and these bonds would reach slightly more than 8 percent at ...