General Obligation (GO) Bonds
Major projects like streets, parks, and town-owned facilities are often funded by the sale of bonds. Bonds are tools that allow both current and future taxpayers to share the cost of amenities that will benefit them.
General obligation bonds require approval by Apex voters. Other debt financing options include revenue bonds, certificates of participation, installment purchase contracts, limited obligation bonds, two-thirds bonds, and state revolving loans.
Apex's general obligation bonds have received a AAA rating (the highest possible rating) from two national credit rating agencies - Moody's, and Standard & Poor's.
This top-notch bond rating demonstrates to current and possible investors that the town's financial future is secure. This also helps keep the costs of borrowing money low for Apex.
Planned Bond Sales
In October 2023, the Town plans to make the first issuance from the 2021 authorization. We will issue $17.5 million for: Apex Peakway SW Connector ($15.5M), Safe Routes to School ($1.0M), and Street Pavement Backlog ($1.0M). The Town will also issue the remaining $7.0M from the 2015 authorization, towards the Apex Peakway SW Connector project. Finally, the Town will issue $3.46M of two-thirds bonds to be used for the Mason Street Municipal Building project.
Previous Bond Sales
|2020A||$1.8M||GO||Parks & Recreation|
|2020B||$28.0M||GO||Parks & Recreation|
|2018||$20.0M||GO||Parks & Recreation|
How Bonds are Sold
The N.C. Department of State Treasurer handles the sale of Town of Apex bonds. Most bonds are sold competitively to the investment banking firm that offers the lowest interest rate. That firm then sells the bonds to individuals and institutions such as insurance companies. Individuals can buy Apex bonds from registered broker dealers.
A bond's CUSIP is an alphanumeric identification code, usually nine characters, assigned to each maturity of a bond issue and is printed on the face of each individual bond. All municipal bonds are assigned a CUSIP number prior to pricing.
For additional general North Carolina debt information please see the Local Government Commission – Local Debt Management Section.