The bond was divided into four sections and will fund the county's two school systems, parks and recreation, senior centers and affordable housing.
"I had been optimistic that the bond would pass, based on general comments and also editorials," Orange County Commissioner Alice Gordon said.
The majority of the $75 million will go toward education, with $47 million slated to construct and improve Orange County and Chapel Hill-Carrboro City schools.
The school bond will finance the building of two new elementary schools in Chapel Hill-Carrboro City Schools and one middle school in Orange County Schools in an attempt to ease overcrowding.
Gordon added that $2.9 million has been allotted for school maintenance and improvement.
She said the commissioners plan to have one of the two elementary schools completed by 2003 and expect construction to begin soon.
Along with the schools' funding, another $20 million is earmarked for the development and maintenance of parks and recreational facilities in the county. This will be the largest parks bond in Orange County's history.
"The parks bond was something that had extensive input and complexity because it included so many issues," Gordon said.
"People voted to preserve land that is getting more and more scarce, and I think it's a great thing that voters are addressing the issue."