We have your interest in Raleigh's parks bond - and it's a lot. Raleigh voters can approve or disapprove a parks bond on November 8, 2022. The bond covers a myriad of proposed projects. The cost? Well according to Raleigh it's $275 million.
But that's not exactly correct. Raleigh will borrow the money through general obligation (voter approved) bonds. That lowers the interest rate but the lender's not very gracious. The proposed interest costs are considerable.
What you've read is correct. Raleigh will pay $130 million in interest payments to borrow $275 million.
Will Raleigh increase your taxes to finance this? Without a doubt.
You can the read the Statement of Total Estimated Interest here.