Indian Trail's Newsletter The IT Factor: Special Edition
2
Sharing Indian Trail’s Vision Since 1907 October 2012 SPECIAL EDITION Live, Work, Play, Learn Indian Trail, NC the factor Special Edition Special Edition 2012 Parks Bond: Answers To Your Questions! A guide to the bond process Commonly Asked Questions Q: What community parks will be developed if the bond refer- endum is passed? A: Two parks will begin development if the bond passes: e first large community park, located near Indian Trail Road and US-74, will span 51 acres. e second large community park is located near Sardis Ele- mentary School and Unionville-Indian Trail Road and is approximately 140 acres. Q: How will the bond be paid for? A: e Parks Bond is for $8.5 million. e Town Council voted to pay for the construction of these parks with a capital reserve fund. e Council voted there will not be an additional tax increase to pay for repayment of the park bonds. A capital reserve fund is a type of municipal account used for long-term capital investment projects. is type of reserve fund is set aside to ensure the municipality has adequate funding to assist with financing a project and can only be used for the purpose for which the fund was established. Q:When will construction begin if the parks bond passes? A: e construction process would begin as soon as possible with ground breaking in the Summer of 2013. e Council will decide which park amenities to construct first. e Town will actively pursue collaborative partnerships and grant funding to facilitate complete park build-out. Q: Who will be responsible for park maintenence? A: e parks will be maintained by the Indian Trail public works de- partment. e intent is for maintenance of both parks to be paid for by revenues from sports tournaments, fees for private events held in the parks and the general fund. Q: What proposed amenities are planned for the two parks? A: 51 acre park (located near Indian Trail Road and US-74): - large playground - disc golf - sand volleyball - athletic fields - tennis courts - picnic pavilions - dog park - walking trails - Carolina Courts facility 140 acre park (located near Sardis Elementary School and Unionville- Indian Trail Road): - soſtball/baseball complex - multiple playgrounds - 2 dog parks - multiple picnic pavilions - water feature/sprayground - 5 miles of running, walking and biking trails - nature area - multi-use fields for soccer, lacrosse & football - fishing pond **See reverse side for proposed park plans.** Q: Where can I get more information about the Community Parks Bond Referendum? A: If you have additional questions regarding the Parks Bond Refer- endum or would like to arrange a community meeting for a group of residents please contact Rebecca Carter, Public Information Officer at [email protected] or 704-821-5401. You can also view the proposed park concept plans at www.indiantrail.org. What Will e Cost Of e Parks Bond Referendum Be For Residents? is is how the Town of Indian Trail Bond Referendum will appear on the November 6 ballot: “SHALL the order authorizing $8,500,000 of bonds secured by the pledge of the full faith and credit of the Town of Indian Trail, North Carolina to pay the costs of providing for the acquisition, construction, renovation, improvement and equipping of parks and recreation facilities for a park located at 304 Mat- thews-Indian Trail Road and another community park to be designated by the Town, including the acquisition of land, rights-of-way and easements related thereto, if necessary, be approved?” YES NO is information from the Town of Indian Trail is only intended to inform residents about the upcoming bond referendum. Based on current estimates the Town Council expects that there would be no additional tax rate increase for residents if the parks bond is ap- proved. e Town Council has created a capital reserve fund in the current Town budget that would allocate existing tax revenues in each year to pay for bond debt of the Town, including previously approved street bonds, the park bonds if approved, and other capital needs of the Town. e parks bonds would be secured by the full faith and credit of the Town which the Town intends to pay through its capital reserve fund. e Town’s annual financial statements are submitted to and reviewed by the North Caro- lina Local Government Commission (LGC) and the Town has had six con- secutive years of unqualified or clean audits. e sale of the park bonds, if approved by the voters, would by North Carolina law have to be reviewed and approved by the LGC. Town Council expects that there would be no additional tax rate increase for residents if the parks bond is approved. If passed the Town will be able to finance $8.5 million for the construction of 2 parks through bond money with the intent of no additional tax rate increase. If not passed no parks will be built with bond funds. However, it should be noted that General Obligation Bonds are the cheapest and most cost effective way to bor- row money for major projects. e first large community park, located near Indian Trail Road and US-74, will span 51 acres. e second large community park is located near Sardis Elementary School and Unionville-Indian Trail Road and is approximately 140 acres. Pictured at leſt from leſt to right: Proposed 51 acre park. Proposed 140 acre park. ‘Sardis Park’ and ‘Chestnut Park’ names are not of- ficial and are used for reference purposes only. If the park bond is passed park names will be determined at a later date.
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Special edition newsletter
Transcript of Indian Trail's Newsletter The IT Factor: Special Edition
Sharing Indian Trail’s Vision Since 1907October 2012
SPECIAL EDITION
Live, Work, Play, Learn Indian Trail, NC
the factorSpecial Edition
Special Edition
2012 Parks Bond: Answers To Your Questions!A guide to the bond process
Commonly Asked QuestionsQ: What community parks will be developed if the bond refer-endum is passed? A: Two parks will begin development if the bond passes: The first large community park, located near Indian Trail Road and US-74, will span 51 acres. The second large community park is located near Sardis Ele-mentary School and Unionville-Indian Trail Road and is approximately 140 acres.
Q: How will the bond be paid for? A: The Parks Bond is for $8.5 million. The Town Council voted to pay for the construction of these parks with a capital reserve fund. The Council voted there will not be an additional tax increase to pay for repayment of the park bonds. A capital reserve fund is a type of municipal account used for long-term capital investment projects. This type of reserve fund is set aside to ensure the municipality has adequate funding to assist with financing a project and can only be used for the purpose for which the fund was established.
Q:When will construction begin if the parks bond passes? A: The construction process would begin as soon as possible with ground breaking in the Summer of 2013. The Council will decide which park amenities to construct first. The Town will actively pursue collaborative partnerships and grant funding to facilitate complete park build-out.
Q: Who will be responsible for park maintenence? A: The parks will be maintained by the Indian Trail public works de-partment. The intent is for maintenance of both parks to be paid for by revenues from sports tournaments, fees for private events held in the parks and the general fund.
Q: What proposed amenities are planned for the two parks? A: 51 acre park (located near Indian Trail Road and US-74): - large playground - disc golf - sand volleyball - athletic fields - tennis courts - picnic pavilions - dog park - walking trails - Carolina Courts facility 140 acre park (located near Sardis Elementary School and Unionville- Indian Trail Road): - softball/baseball complex - multiple playgrounds - 2 dog parks - multiple picnic pavilions - water feature/sprayground - 5 miles of running, walking and biking trails - nature area - multi-use fields for soccer, lacrosse & football - fishing pond
**See reverse side for proposed park plans.**
Q: Where can I get more information about the Community Parks Bond Referendum?A: If you have additional questions regarding the Parks Bond Refer-endum or would like to arrange a community meeting for a group of residents please contact Rebecca Carter, Public Information Officer at [email protected] or 704-821-5401. You can also view the proposed park concept plans at www.indiantrail.org.
What Will The Cost Of The Parks Bond Referendum Be For Residents?
This is how the Town of Indian Trail Bond Referendum
will appear on the November 6 ballot:“SHALL the order authorizing $8,500,000 of bonds secured by the pledge of the full faith and credit of the Town of Indian Trail, North Carolina to pay the costs of providing for the acquisition, construction, renovation, improvement and equipping of parks and recreation facilities for a park located at 304 Mat-thews-Indian Trail Road and another community park to be designated by the Town, including the acquisition of land, rights-of-way and easements related thereto, if necessary, be approved?”
YES NO
This information from the Town of Indian Trail is only intended to inform residents about the upcoming bond referendum.
Based on current estimates the Town Council expects that there would be no additional tax rate increase for residents if the parks bond is ap-proved. The Town Council has created a capital reserve fund in the current Town budget that would allocate existing tax revenues in each year to pay for bond debt of the Town, including previously approved street bonds, the park bonds if approved, and other capital needs of the Town.
The parks bonds would be secured by the full faith and credit of the Town which the Town intends to pay through its capital reserve fund. The Town’s annual financial statements are submitted to and reviewed by the North Caro-lina Local Government Commission (LGC) and the Town has had six con-secutive years of unqualified or clean audits. The sale of the park bonds, if approved by the voters, would by North Carolina law have to be reviewed and approved by the LGC.
Town Council expects that there would be
no additional tax rate increase for residents if the parks bond is
approved.
If passed the Town will be able to finance $8.5 million for the construction of 2 parks through bond money with the intent of no additional tax rate increase.
If not passed no parks will be built with bond funds. However, it should be noted that General Obligation Bonds are the cheapest and most cost effective way to bor-row money for major projects.
The first large community park, located near Indian Trail Road and US-74, will span 51 acres. The second large community park is located near Sardis Elementary School and Unionville-Indian Trail Road and is approximately 140 acres.
Pictured at left from left to right: Proposed 51 acre park. Proposed 140 acre park. ‘Sardis Park’ and ‘Chestnut Park’ names are not of-ficial and are used for reference purposes only. If the park bond is passed park names will be determined at a later date.
Page 2Special Edition the factor
Live, Work, Play, Learn Indian Trail, NC
51 Acre Park Located Near Indian Trail Road and US 74A) Community Center Area 1. Future Community Center* 2. Public Works Annex 3. Playground 4. Main Trail 5. Secondary Trail 6. Parking 7. Overflow ParkingB) Signature Playground Area 8. Signature Playground 9. Pond/Gardens/Gazebo
140 Acre Park Located Near Sardis Elementary School and Unionville-Indian Trail Road
Passive RecreationA) Nature Center 1. Nature Center 2. “Nature Themed” Playground 3. Outdoor Classroom 4. Fishing Pond 5. Shelter 6. Parking 7. Carolina Thread Trail 8. 5k Loop Trail
9. Boardwalk 10. 18-Hole Disc Golf Course 11. Playground/Sprayground 12. Large Pavilion 13. Small Dog Park 14. Large Dog Park
Active RecreationB) Baseball Complex 15. Tournament Quality Baseball Field 16. Baseball/Softball Fields w/ Youth Soccer 17.Restrooms/Concession/Scorers Tower 18. ParkingC) Baseball Complex 19. Baseball Fields w/ Youth Soccer 20. Restrooms/Concessions/Scorers Tower 21. Parking
D) Soccer Complex 22. Turf Soccer Field 23. Shelter 24. Parking
OTHER 25. Maintenance Area
*Maps are NOT to scale
10. Picnic Shelter 11. Main Trail 12. Secondary Trail 13. Tennis Courts 14. Disc Golf 15. Dog Park 16. Fitness StationC) Multi- Purpose Area 17. Synthetic Multi-purpose fields 18. Restrooms/Shelter 19. Walking PathD) Carolina Courts 20. Carolina Courts Facility 21. Outdoor Volleyball Courts 22. Plaza 23. Parking 24. Main TrailOTHER 25. Ornamental Fence/Gateways 26. Secondary Entrance/Exit Road 27. “Future” Private Development
Proposed Park Plans
*Community Center funding is TBD.
