CHESTERFIELD, Va. (WRIC) — Chesterfield voters have resoundingly endorsed a $540 million bond that will allow the county to make much-needed investments in public projects over the next decade.
As of 8:36 p.m., with 82 of 89 precincts reporting — 76.16% of voters favored passing the referendum, while just 23.84% voted against it.
The bond referendum is aimed at paying for a major expansion and renovation of the county’s schools, parks, libraries, fire stations and police precincts.
You can see details of the proposed investments below:
Chesterfield will not issue all of the debt at once. Instead, the county will take on the debt over the next decade as they begin the projects.
In a briefing earlier this year, Deputy County Administrator Matt Harris emphasized that the debt would not lead to any additional taxes on county residents.
“It’s the lowest-cost way we can access debt financing,” he said. “We can only access that special kind of financing if it’s approved by the voters in a referendum.”
“There are no new taxes associated with that.”