STATEMENT OF RESULTS OF SPECIAL BOND REFERENDUM ON THE BOND ORDER AUTHORIZING THE ISSUANCE OF $7,300,000 GENERAL OBLIGATION PUBLIC IMPROVEMENT BONDS, HELD FOR THE TOWN OF HOLDEN BEACH, NORTH CAROLINA ON NOVEMBER 4, 2025
WHEREAS, by direction of the Board of Commissioners (the "Board") of the Town of Holden Beach, North Carolina (the "Town"), a special bond referendum was duly called and held for said Town on November 4, 2025 for the purpose of submitting to the qualified voters of said Town the question hereinafter set forth, and said Board has received from the Brunswick County Board of Elections a certification of the results of said referendum, and has determined the result of said referendum to be as hereinafter stated;
NOW, THEREFORE, the Board of Commissioners of the Town of Holden Beach hereby makes the following statement of the result of said referendum pursuant to The Local Government Bond Act:
(1) The number of voters registered and qualified to vote at said referendum was 922.
(2) The total number of voters who voted "Yes" in answer to the question,
"Additional property taxes may be levied on property located in the Town of Holden Beach, 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 authorizing $7,300,000 of bonds plus interest to finance the capital costs of the demolition and removal of the existing pier and construction of a new pier, including any improvements related thereto, 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 the bond, using the highest interest rate charged for similar debt over the last 20 years, would be $11,586,345 (consisting of $7,300,000 principal amount of bonds plus $4,286,345 of 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 the bond provided above would be $31.60 per year."
was 213. The total number of voters who voted "No" in answer to such question was 351. The question in the form submitted was NOT APPROVED by the affirmative vote of a majority of those who voted thereon at said referendum.
Any action or proceeding challenging the regularity or validity of this bond referendum must be begun within 30 days after December 26, 2025.
BOARD OF COMMISSIONERS OF THE TOWN OF HOLDEN BEACH, NORTH CAROLINA
Publication Dates
LWLM0426352