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11 <br /> 1 Slide #11 <br /> 2024 SAMPLE BALLOT <br /> Orange County School Bonds <br /> (For Orange County Schools and Chanel Hill-Carrboro City Schools) <br /> Additional property taxes may be levied on property located in Orange County <br /> in an amount sufficient to pay the principal of and interest on bonds if <br /> approved 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 <br /> Commissioners 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 /> ORANGE COUNTY <br /> NORTH CAROLINA <br /> 2 <br /> 3 <br /> 4 Slide #12 <br /> 2016 BALLOT <br /> Orange County School Bonds <br /> Shall the order authorizing Orange County general obligation <br /> bonds in the maximum amount of$120,000,000 plus interest to <br /> pay capital costs of providing school facilities and paying <br /> related costs, and providing that additional taxes may be levied <br /> in an amount sufficient to pay the principal of and interest on <br /> the bonds, as adopted by the County's Board of <br /> Commissioners on May 5, 2016, be approved? [] YES <br /> [] NO <br /> ORANGE COUNTY <br /> NORTH CAROLINA <br /> 5 <br /> 6 Vice-Chair Greene asked if it is true that they can phase in a tax rate increase. <br /> 7 Gary Donaldson said yes. <br /> 8 Vice-Chair Greene said they could phase it in based on how much they need at a given <br /> 9 time. <br /> 10 Gary Donaldson said yes. <br />