Updated: May 21, 2019
The district issued bonds and continues to pay that debt for schools such as Atlantic Coast High School and Waterleaf Elementary School, which were built many years ago. To take on debt through bonds, the bonds must be backed with a predictable source of revenue. Because state funding sources have decreased so significantly, there is not enough predictable funding to back a bond issue. If the voluntary half-penny tax is successful, that predictable revenue will enable the district to issue bonds and accelerate work on the highest priority school projects.