S pecia Special l Editio Edition n
October 2012 SPECIAL EDITION
Sharing Indian Trail’s Vision Since 1907
2012 Parks Bond: Answers To Your Questions! A guide to the bond process
Commonly Asked Questions
What Will The Cost Of The Parks Bond Referendum Be For Residents?
Q: What community parks will be developed if the bond refer-
Based on current estimates the Town Council expects that there would
A: Two parks will begin development if the bond passes: The first large
be no additional tax rate increase for residents if the parks bond is approved. The Town Council has created a capital reserve fund in the current Town budget that would allocate existing tax revenues in each year to pay for bond debt of the Town, including previously approved street bonds, the park bonds if approved, and other capital needs of the Town.
The parks bonds would be secured by the full faith and credit of the Town which the Town intends to pay through its capital reserve fund. The Town’s annual financial statements are submitted to and reviewed by the North Carolina Local Government Commission (LGC) and the Town has had six consecutive years of unqualified or clean audits. The sale of the park bonds, if approved by the voters, would by North Carolina law have to be reviewed and approved by the LGC.
Town Council expects that there would be no additional tax rate increase for residents if the parks bond is approved.
This is how the Town of Indian Trail Bond Referendum will appear on the November 6 ballot:
“SHALL the order authorizing $8,500,000 of bonds secured by the pledge of the full faith and credit of the Town of Indian Trail, North Carolina to pay the costs of providing for the acquisition, construction, renovation, improvement and equipping of parks and recreation facilities for a park located at 304 Matthews-Indian Trail Road and another community park to be designated by the Town, including the acquisition of land, rights-of-way and easements related thereto, if necessary, be approved?”
If passed the Town will be able to finance $8.5 million for the construction of 2 parks through bond money with the intent of no additional tax rate increase. If not passed no parks will be built with bond funds. However, it should be noted that General Obligation Bonds are the cheapest and most cost effective way to borrow money for major projects.
endum is passed?
community park, located near Indian Trail Road and US-74, will span 51 acres. The second large community park is located near Sardis Elementary School and Unionville-Indian Trail Road and is approximately 140 acres.
Q: What proposed amenities are planned for the two parks? A: 51 acre park (located near Indian Trail Road and US-74):
- large playground - disc golf - sand volleyball - athletic fields
- tennis courts - picnic pavilions - dog park - walking trails - Carolina Courts facility 140 acre park (located near Sardis Elementary School and Unionville- Indian Trail Road): - softball/baseball complex - multiple playgrounds - 2 dog parks - multiple picnic pavilions - water feature/sprayground - 5 miles of running, walking and biking trails - nature area - multi-use fields for soccer, lacrosse & football - fishing pond
**See reverse side for proposed park plans.**
Q: How will the bond be paid for? A: The Parks Bond is for $8.5 million. The Town Council voted to pay for
the construction of these parks with a capital reserve fund. The Council voted there will not be an additional tax increase to pay for repayment of the park bonds. A capital reserve fund is a type of municipal account used for long-term capital investment projects. This type of reserve fund is set aside to ensure the municipality has adequate funding to assist with financing a project and can only be used for the purpose for which the fund was established.
Q:When will construction begin if the parks bond passes? A: The construction process would begin as soon as possible with ground
breaking in the Summer of 2013. The Council will decide which park amenities to construct first. The Town will actively pursue collaborative partnerships and grant funding to facilitate complete park build-out.
Q: Who will be responsible for park maintenence? A: The parks will be maintained by the Indian Trail public works de-
partment. The intent is for maintenance of both parks to be paid for by revenues from sports tournaments, fees for private events held in the parks and the general fund.
Q: Where can I get more information about the Community Parks Bond Referendum?
A: If you have additional questions regarding the Parks Bond Referendum or would like to arrange a community meeting for a group of residents please contact Rebecca Carter, Public Information Officer at firstname.lastname@example.org or 704-821-5401. You can also view the proposed park concept plans at www.indiantrail.org.
The first large community park, located near Indian Trail Road and US-74, will span 51 acres. The second large community park is located near Sardis Elementary School and Unionville-Indian Trail Road and is approximately 140 acres. Pictured at left from left to right: Proposed 51 acre park. Proposed 140 acre park. ‘Sardis Park’ and ‘Chestnut Park’ names are not official and are used for reference purposes only. If the park bond is passed park names will be determined at a later date.
This information from the Town of Indian Trail is only intended to inform residents about the upcoming bond referendum. Live, Work, Play, Learn
Indian Trail, NC
Proposed Park Plans 51 Acre Park Located Near Indian Trail Road and US 74 A) Community Center Area 1. Future Community Center* 2. Public Works Annex 3. Playground 4. Main Trail 5. Secondary Trail 6. Parking 7. Overflow Parking B) Signature Playground Area 8. Signature Playground 9. Pond/Gardens/Gazebo 10. Picnic Shelter 11. Main Trail 12. Secondary Trail 13. Tennis Courts 14. Disc Golf 15. Dog Park 16. Fitness Station C) Multi- Purpose Area 17. Synthetic Multi-purpose fields 18. Restrooms/Shelter 19. Walking Path D) Carolina Courts 20. Carolina Courts Facility 21. Outdoor Volleyball Courts 22. Plaza 23. Parking 24. Main Trail OTHER 25. Ornamental Fence/Gateways 26. Secondary Entrance/Exit Road 27. “Future” Private Development *Community Center funding is TBD.
140 Acre Park Located Near Sardis Elementary School and Unionville-Indian Trail Road
Passive Recreation A) Nature Center 1. Nature Center 2. “Nature Themed” Playground 3. Outdoor Classroom 4. Fishing Pond 5. Shelter 6. Parking 7. Carolina Thread Trail 8. 5k Loop Trail
9. Boardwalk 10. 18-Hole Disc Golf Course 11. Playground/Sprayground 12. Large Pavilion 13. Small Dog Park 14. Large Dog Park
Live, Work, Play, Learn
Active Recreation B) Baseball Complex D) Soccer Complex 15. Tournament Quality Baseball Field 22. Turf Soccer Field 16. Baseball/Softball Fields w/ Youth Soccer 23. Shelter 17.Restrooms/Concession/Scorers Tower 24. Parking 18. Parking C) Baseball Complex OTHER 19. Baseball Fields w/ Youth Soccer 25. Maintenance Area 20. Restrooms/Concessions/Scorers Tower 21. Parking *Maps are NOT to scale
Indian Trail, NC