
Article VII, Section 10, of the Constitution of Virginia requires local governments to obtain voter approval to issue bonds. Voters in Loudoun County, Virginia, will be asked to consider two bond referendums on this year’s ballot.
Bonds are debt. When they are sold, the issuing government receives an influx of cash from the purchasers. But, like a bank loan, that money must be repaid over time with interest.
Like any other loan, bonds should only be used when necessary. Most projects should be funded directly from the general fund (i.e., from the “money in the bank”). Only when a particular project is very important, but too large to fund directly, should we turn to using bonds for financing.



Every day is a stupid holiday now. It’s always ‘National Donut Day’ or ‘National Textiles Day’ or something. I think it’s getting pretty silly.