Question 1 - Housing Bonds Referendum

Additional property taxes may be levied on property located in the City of Raleigh, North Carolina in an amount sufficient to pay the principal of and interest on bonds if approved by the following ballot question. Shall the order adopted on May 19, 2026, authorizing not exceeding $101,500,000 HOUSING BONDS of the City of Raleigh, North Carolina, plus interest, for the purpose of providing funds, together with any other available funds, for community development programs to provide and rehabilitate multifamily and single family housing inside the corporate limits of said City, principally for the benefit of persons of low and moderate income, including, without limitation, (a) the construction or rehabilitation of housing or neighborhood revitalization improvements, (b) programs to provide loans and other financial assistance to such persons and to public and private providers of housing and (c) the acquisition of any related land, rights of way and equipment, and providing that additional taxes may be levied in an amount sufficient to pay the principal of and interest on the bonds, be approved, in light of the following: (1) The estimated cumulative cost over the life of said bonds, using the highest interest rate charged for similar debt over the last 20 years, would be $167,885,618, consisting of the $101,500,000 principal amount of said bonds, plus $66,385,618 of estimated interest. (2) The estimated amount of property tax liability increase for each one hundred thousand dollars ($100,000) of property tax value to service the cumulative cost over the life of said bonds provided above would be $0 (zero dollars) per year.