At its May 15 meeting, the Holly Springs Town Council adopted a resolution authorizing staff to apply to the Local Government Commission for approval to hold a $40 million transportation bond referendum. The referendum could appear on the November ballot for Holly Springs voters if approved by the commission, which oversees local government financing.
An outside financial analyst said the town could support the borrowing of $40 million. That assumes a 5-cent rise in the property tax rate when all the bonds are issued. Click here for more information.
The council also approved a resolution requesting the Local Government Commission to extend the time for the town to issue 2011 Parks and Recreation bonds for an additional three-year period.
In 2011 the citizens of Holly Springs voted to issue $20 million in general obligation bonds for parks and recreation projects. The town has issued $12.5 million of those bonds, funding the purchase of Sugg Farm, synthetic turf fields, greenways and walking trails, playground and disc golf equipment, tennis courts and more.
The remaining $7.5M of these bonds are set to expire in November 2018. The extension does not issue these bonds or create a debt of the town; the extension merely preserves the option for the town to do so at some point within the next three years.
Also at the meeting, the council moved forward with work to install about 40 wayfinding signs directing pedestrian, bicycle and vehicular traffic to areas of interest around town. The council selected Signs, Etc. as the vendor to provide the signs and authorized the town manager to negotiate a contract for an amount not to exceed $200,000.
The council also:
- reappointed Alice Reese to the Parks and Recreation Advisory Committee. (A previous appointee opted to remain in her position as a contracted coach.)
- tabled a decision on the development plan for United Community Bank downtown; discussion included additional trees and road improvements, and a walk-up ATM.
- approved Unified Development Ordinance amendments, part of a biannual evaluation. The updates were made to comply with changes in state statues, keep pace with changing technology and best practices, and improve functionality.
- approved an addendum to the license and use agreement with Lighthouse Recruiting for the Co-Working Station.
Town Finance Department staff was congratulated for earning a Certificate of Achievement for Excellence in Financial Reporting.
Also at the meeting, a representative from GoTriangle discussed services provided by the agency and highlighted Bike Month. Click here for rules of the road, tips, a video and more.