What you need to know about the Lex-Rich 5 bond referendum [Video]

LEXINGTON COUNTY, S.C. — If you’re in Lexington County and you haven’t cast your ballot yet, this story is for you. One of the things you may be voting on is the Lexington Richland Five bond referendum. 

According to the district superintendent, Dr. Akil Ross, the bond would fund $240M worth of district projects.

“To service the debt on this bond would cost the same. We have structured it through amortization, so if the bond referendum passes or fails, the tax rate is the same,” Ross said.  

Ross said with this referendum a new borrowing total and long term debt would need to be paid off over the next 20 years. 

“We’ve identified over $182M of needs in our facilities, as well as a need to alleviate the capacity issues that …