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The $12.9 million in new debt would be approved as two-thirds bonds. Under state law, the county can issue bonds up to two-thirds of the amount of debt paid off in the prior fiscal year without voter approval.
Guilford last approved this type of debt in 2004 — $9.2 million for public buildings. Before that, the county generally used two-thirds bonds for water and sewer projects.
The Board of Commissioners will be asked to approve the new debt in the coming weeks. The county will pay off the debt through its annual budgets, most of which are funded by local taxes.
