Public Facilities 

  1. 2019 General Obligation Bond Referendum
  2. South Street Steering Committee
  3. Overview/History
  4. Public Workshops

At the June 11, 2019 meeting, the Board of Commissioners initiated the process to place a $14 million general obligation bond referendum on the November 5, 2019 ballot for consideration by the voters of Davidson in order to pay for public facilities. Voters passed the referendum this election.

The project includes two core components – renovation of the historic 251 South Street for a new town center and reconfiguring the current town hall to better accommodate the needs of the Davidson Police and Fire Departments in order to serve the community as effectively as possible.

The completed renovations of 251 South Street, done in a way to preserve the historic character of the building, will create a new town center where approximately half of the building is available for community gathering space. Town of Davidson offices will also occupy the building, providing for the growing needs of the town’s administrative functions.

For public safety, the current town hall reconfiguration will allow the Police Department to occupy the entire main level and add work space for both current and future needs, forensic evidence storage, and a secure exterior space for storage and core police operational functionally. Fire Station 1 will also be modified to improve the kitchen and restroom areas, in addition to adding additional living quarters.

A Message from Davidson Police Chief Penny Dunn

A Message from Davidson Fire Chief Bo Fitzgerald

A Message from Stewart Gray on the History of 251 South Street

November 5 Voters in Davidson pass referendum to pay for public facilities 

September 10 Public Facilities Communications Plan - agenda memo and powerpoint presentation

August 27 Public Facilities Debt Payment Plan - agenda memo and powerpoint presentation

August 13 Resolution 2019-33 adopting Public Facilities Bond Order and Resolution 2019-34 Setting G.O. Bond Referendum Date - agenda memo and powerpoint presentation

July 23 Public Hearing GO Bond - presentation

July 9 GO Bond Order Resolution - agenda memo and powerpoint presentation

June 11 Final Conceptual Design and Pricing - agenda memo and powerpoint presentation

May 28 Conceptual Design and Pricing - agenda memo and powerpoint presentation

May 7 Visioning Workshop with the Town Board

What is a General Obligation Bond?

A general obligation bond is typically the lowest interest rate borrowing available to a municipality.  As opposed the other types of financing which are collateralized by the assets which is being financed, the G.O. Bond is secured by the taxing power of the Town.  G.O. bonds are typically issued with a duration of 20-years and require the approval of the voters and the Local Government Commission (LGC).  After approval of a bond referendum a municipality has 7 years to issue the bonds (may be extended to 10 years under certain circumstances).

What does it mean for homeowners when municipalities fund capital projects with installment financing or General Obligation Bonds?

GO Bonds are secured by a pledge of the taxing power of the town, which means that the board of commissioners may need to raise ad valorem (property) taxes to pay for the debt.  The issuance if installment financing may also require a tax increase to fund the required payments.