GASTONIA, N.C. — A $75 million investment in public transportation infrastructure in Gastonia will be on the ballot this fall, city officials announced Monday.
When voters in Gastonia head to the polls in November, they'll decide more than just local, state and federal lawmakers. They'll also decide on a $75 million bond referendum that would fund numerous projects across the city.
The Transportation General Obligation Bond Referendum includes street and road repairs, street resurfacing, utility relocations, as well as intersection and walkway improvements, the city said.
Gastonia City Council unanimously approved the bond referendum on Aug. 2. The bonds would be issued in two parts. City leaders said they believe Gaston County property tax valuations will be higher than current values, meaning increased revenue from that growth will pay for the bond with no tax rate increase on residents.
The bonds must be spent within 10 years, and must be repaid within 20 years.
"We want to continue to make our city a great place to live, work and play," Mayor Walker Reid said. "We know that our city needs these improvements and the time is right."
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