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in an amount sufficient to pay the principal of and interest on bonds if approved <br /> by the following ballot question . <br /> Shall the order authorizing $ 300 , 000 , 000 bonds plus interest to pay capital <br /> costs of providing school facilities and paying related costs and providing that <br /> additional taxes may be levied in an amount sufficient to pay the principal of <br /> and interest on the bonds, as adopted by the County ' s Board of Commissioners <br /> on June 18 , 2024, be approved, in light of the following : <br /> ( 1 ) The estimated cumulative cost over the life of the bond, using the highest <br /> interest rate charged for similar debt over the last 20 years , would be <br /> $ 480 , 360 , 000 . <br /> ( 2 ) The estimated amount of property tax liability increase for each one <br /> hundred thousand dollars ( $ 100 , 000 ) of property tax value to service the <br /> cumulative cost over the life of the bond provided above would be $ 34 . 10 per <br /> year. <br /> [ ] YES [ ] NO <br /> 5 . The Board directs the Clerk to this Board to transmit a certified <br /> copy of this resolution to the Orange County Board of Elections within three <br /> days after today. <br /> 6 . The Board directs the Clerk to this Board to publish notice of the <br /> bond referendum as required by Section 159 - 61 of the General Statutes . <br />