“GO Bond” is short for General Obligation Bond, and “referendum” is just another word for” vote.”
Public schools rely on the support of local taxpayers to help fund the operations and facilities of the school district. A GO Bond is a common way many school districts use to borrow finances to help pay for large construction, expansion, or renovation projects. District voters must approve a GO Bond before it can be used. Once voters approve, a financial institution will loan money to the district through the sale of municipal bonds. The district repays the bonds with money raised through a modest property tax increase for households within the school district boundaries.