Loudoun County to Ask Voters for $308M in Debt Authority

Supervisors have voted unanimously to request authority from the voters to take on up to $308.3 million in debt in the form of General Obligation bonds with a referendum in November.

If approved by the Circuit Court—as those requests routinely are—that will put four questions on the November ballot for voters.

One will ask voters for authority to issue $123,755,000 in bonds to finance school projects including work on renovating the Douglass School, school security improvements, a Student Welcome Center at Sterling Elementary School, and other projects.

Another will ask to issue $29,516,000 in bonds to finance public safety projects, including expanding the Fire and Rescue Training Academy and replacing the Philomont Fire and Rescue Station.

Another will ask to issue $3,825,000 in bonds for parks and recreation projects, including work on Philip A. Bolen Memorial Park and Scott Jenkins Memorial Park.

And the fourth will ask to issue $151,210,000 in bonds to finance transportation projects such as work on Braddock Road, widening Loudoun County Parkway, work on Rt. 15 north of Leesburg, and other projects. The county now also phrases bond questions broadly enough to allow the government to use the money from those bond sales on other projects if it is available.

Loudoun County currently maintains a triple-A credit rating from all three major bond ratings agencies on its General Obligation bonds, the highest possible credit rating.

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