Arlington Voters to Consider Four Local Bond Referenda

ARLINGTON, Va. – The Arlington County Board today approved four local bond referenda, totaling $161.028 million, to be considered by voters on the Tuesday, November 2, 2010 ballot. Voter approval is being sought to fund the following areas:

• * Arlington Public Schools — $102.888 million
• * Metro and Transportation — $34.1 million
• * Local Parks and Recreation — $5.975 million
• * Community Infrastructure — $18.65 million

“Because County government has been fiscally prudent, Arlington is able to afford investment in infrastructure that will help keep this community both financially sound and a great place to live,” said Board Chairman Jay Fisette. “We hope voters will approve these referenda, and agree to finance critical infrastructure projects such as road paving, the rebuilding of Wakefield High School, repairing of parks and transportation investments.”

The projects included in these bond questions are part of the County’s and Arlington Public Schools’ Capital Improvement Programs for 2011-2016, adopted in June, 2010. If approved by voters, proceeds from the bonds will be used to pay for projects that include:

• * Building a new Wakefield High School
• * Support for the Washington Metropolitan Area Transit Authority’s Capital Improvement Program

• * Herndon and 13th St. Park – completing the implementation of the Parks Master Plan
• * Rocky Run Park – complete renovation
• * Land Acquisition and Open Space
• * Parks Maintenance Capital – replacement or major renovation of different types of outdoor park and recreation facility assets including athletic fields and courts, lighting, playgrounds, picnic shelters, and restrooms,
• * Neighborhood Conservation – funding public improvements requested by neighborhoods and approved by the Board
• * Facilities Maintenance Capital – replacement and rehabilitation of roofs, HVAC, windows and other facility components at County facilities

The Board voted 5-0 to approve this resolution as a consent item. For more details on the referenda, see the July 10 Board Meeting agenda. Scroll down to Item #45 to read the staff report on the Bond referenda.

Background

This year’s Capital Improvement Program was developed amid the continued pressures of the current economic environment. The County made prudent choices for necessary investment in infrastructure and facilities, while ensuring the County’s financial health. The plan was guided by the Board’s financial and debt management policies.

Arlington is one of only 35 Counties in the nation to receive AAA ratings from the three major rating agencies. (The County’s bond ratings are currently in the process of being reaffirmed as part of its upcoming bond sale and ratings are expected next week.) These strong bond ratings allow the County to borrow at very low interest rates, resulting in lower costs to Arlington taxpayers.

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