South Carolina school district voters approve $340 million in bonds

BY SourceMedia | MUNICIPAL | 11/06/25 12:16 PM EST By Robert Slavin

Voters in two South Carolina school districts approved a total of $340 million of bonds in referendums Tuesday.

Spartanburg School District 1 voters approved $140 million of bonds, which garnered 78% of the vote, while Spartanburg School District 5 voters approved $200 million of bonds with 80% backing the referendum.

The Spartanburg District 5 bond proceeds will be used to fund construction of a middle school, elementary school focusing on the arts, and a freshman academy for 9th graders. The facilities are needed because of rapid enrollment growth in the district, the district said.

The bonds will not result in tax increases.

"We are very excited our referendum has passed, and truly thankful for the overwhelming support of our District 5 community," Superintendent Randall Gary said. "This vote was a reflection of the trust our families and community members have in our schools and our district. We're excited to move forward with these projects, knowing we're investing in the future of District 5 students for generations to come."

The District 5 bonds are expected to be sold by competitive bid sometime between late November and early January, a spokesperson said.

The Spartanburg District 1 bond proceeds will be used to build a middle school, elementary school and an addition to another elementary school. The new facilities are needed both because of the expansion of the student population and because of the aging of the existing schools.

The bonds will not result in tax increases.

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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