What happens if the bond doesn’t pass?
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A: The needs won't go away. If the referendum doesn't pass, the Board of Commissioners and Board of Education will consider solutions such as converting most elementary and middle schools to a multi-track, year-round calendar and using split shifts at high schools; and issuing certificates of participation to provide funding for high priority projects. Certificates of participation are similar to general obligation bonds, but have higher interest rates.
Wake County is examining the tax implications of the bond not passing.