Frequently Asked Questions
What is a Bond Referendum?
A bond referendum is a voting process that gives voters the power to decide if a city should be authorized to raise funds through the sale of bonds. A general obligation (GO) bond is a form of long-term borrowing in which a municipality pledges the full faith and credit (taxing power) to repay the debt over a specified term. Typically, a GO Bond allows funds to be borrowed at a lower rate. The parks and recreation bond referendum will be placed before the voters in November.
When do I vote on the referendum?
The bond question will appear on the Nov. 3, 2026, general election ballot. You can vote on the parks bond if you are a Kannapolis resident and are registered to vote. Use one of the following links for voter and election information:
When did Kannapolis last have a GO Bond?
Kannapolis has never had a GO Bond.
What will the Bond fund?
New parks and recreation facilities and other related projects throughout the City. Prospective projects are: Westside Park, Eastside Park, Irish Buffalo Creek Greenway Phase 2 & 3, Rocky River Greenway, Gem Theatre Phase 3 Renovations, Glenn Avenue Park
How much will the City borrow in bonds?
If citizens vote in favor of the bond financing in the November election, the City will have the authority to borrow up to $40 million in general obligation (GO) bonds over 7 years. The amount borrowed will depend on the timing and budget for each of the proposed projects.
What can be offered with new parks?
For a listing of each proposed project and the amenities, visit the project pages:
Why is the City issuing GO bonds? What are the benefits?
GO bonds are the least costly financing option available to the City for these projects. Given the City’s excellent credit rating and financial management, Kannapolis can borrow money at low interest rates which saves us millions of dollars. We can space the projects out over the next decade and not have to borrow all the money at once and we do not have to build all the projects at once. This allows us to preserve our cash and fund balances which we can use for emergencies or natural disasters if needed.
What are the property tax implications of these bonds?
- The property tax impact of this bond issuance is estimated to be up to $0.046 cents per $100 of assessed property valuation.
If the bonds are approved, how quickly could the projects begin?
Master plans are in place or currently underway for these projects, and work could begin immediately.
What happens if the bonds don’t pass in November?
The park and recreation proposed projects would not move forward at this time.
Can the City use public funds to promote a particular viewpoint with respect to the 2026 GO Bond?
No, it cannot. The City has only used city funds to provide factual material in connection with the proposed bond. Any promotional materials, including any that may use city’s logo or reference this website, that advocate either for or against the bond have not been made or paid for by the City.
Questions about the bond?
Send your questions to parks@kannapolisnc.gov.