Gaston County, North Carolina passed a $75 million investment in public transportation infrastructure on Tuesday.
The City of Gastonia said the Transportation General Obligation Bond Referendum includes street and road repairs, street resurfacing, utility relocations, intersection and walkway improvements.
City council members approved the bond referendum on August 2.
The bonds were issued in two parts. City leaders said they believe Gaston County property tax valuations will be higher than current values, meaning increased revenue from that growth will pay for the bond with no tax rate increase on residents.
The bonds must be spent within 10 years and must be repaid within 20 years.
"We want to continue to make our city a great place to live, work and play," Mayor Walker Reid said when the bond was first proposed. "We know that our city needs these improvements and the time is right."
Gastonia is partnering with the U.S. Department of Transportation (USDOT) and the North Carolina Department of Transportation (NCDOT) to work on many projects related to utility relocations and betterments along Interstate 85.
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Source: CityofGastonia.com
