Cabarrus County Community College Bonds

Additional property taxes may be levied on property located in the County of Cabarrus, North Carolina in an amount sufficient to pay the principal of and interest on bonds if approved by the following ballot question.

Shall the order adopted on July 21, 2026, authorizing COMMUNITY COLLEGE BONDS of the County of Cabarrus, North Carolina in an amount not to exceed $60,000,000, plus interest, for the purpose of providing funds to construct, renovate, expand, improve and equip community college facilities in said County for Rowan-Cabarrus Community College, and providing that additional taxes shall be levied in an amount sufficient to pay the principal of and interest on the bonds, be approved, in light of the following:

(1) The estimated cumulative cost over the life of said bonds, using the highest interest rate charged for similar debt over the last 20 years, would be $93,667,200, consisting of the $60,000,000 principal amount of said bonds, plus $33,667,200 of estimated interest.

(2) The estimated amount of property tax liability increase for each one hundred thousand dollars ($100,000) of property tax value to service the cumulative cost over the life of said bonds provided above would be $7.50 per year.