ROANOKE TIMES
Copyright (c) 1996, Roanoke Times
DATE: Friday, January 19, 1996 TAG: 9601190054
SECTION: VIRGINIA PAGE: B-3 EDITION: METRO
SOURCE: JOEL TURNER STAFF WRITER
ROANOKE COUNTY SUPERVISORS say they'll decide well before the April 2 referendum how to repay a proposed bond issue. But they haven't decided yet.
Roanoke County voters will have to be patient.
They won't learn soon how a $37.4 million bond issue for a new Cave Spring High School and other school projects will be repaid if it is approved.
Bob Johnson, chairman of the Roanoke County Board of Supervisors, said it is premature for the supervisors to decide on the method of repaying the bonds, because that will be linked to the county's budget for the next year.
"That issue plays into the budget, and we will address it in the budget process," Johnson said.
Last week, the School Board said it needed to know so it can begin an informational campaign including brochures and videos for the April 2 referendum.
One option that has been discussed is a 3-cent increase in the real estate tax rate, which now is $1.13.
School Board officials said they need to know the repayment plan because they expect voters to ask about it.
"We need to come to some consensus fairly soon," said Jerry Canada, School Board chairman. "We have to be unified."
The campaign brochures are stamped "draft" because the repayment method is unknown, Canada said Thursday. "We want to be able to take that off at some point. People have got to know before they vote on the referendum."
Johnson said the supervisors will answer the question in plenty of time before the referendum, but he didn't set a date.
"I understand [school officials'] needs and that will be addressed in an appropriate fashion as quickly as possible," he said.
Supervisor Lee Eddy agreed the supervisors will make a decision on the repayment plan before the referendum.
"Well before the vote, we will tell people," Eddy said.
Eddy said the repayment plan might be affected by the county's use of reserve funds on industrial prospects. "I am reluctant to jump to any conclusion on the tax rate until we know more about our expenditures." School officials will use brochures and a video to provide information on the bonds, but state law prevents them from using public funds on materials that urge voters to approve them.
Parent-teacher association leaders in Southwest County plan to organize a campaign to build grass-roots support for the referendum.
Most of the money is earmarked for the new Cave Spring High, but there are funds for smaller projects in each magisterial district, in addition to $1 million for technology equipment in all county schools.
The referendum includes $33.6 million for the new high school; $2.8 million to complete the Northside gym and auditorium project; $1 million for Glenvar Middle School; $800,000 for Mount Pleasant Elementary; $150,000 each for Oak Grove Elementary and William Byrd Middle schools; and $350,000 for bond issuing costs. The county has already borrowed $2.5 million of this amount.
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