The money would be needed for 24 new schools, along with renovations and upgrades to existing schools and new facilities. There's also talk about the creation of regional bus center and millions of dollars of upgrades to athletic facilities.
However, all of that will hinge on voters, who most pass a bond referendum which would likely raise taxes.
"One of the hurdles is are all of us as voters prepared to commit to a large program now. I think the Board of Education and the Board of County Commissioners are going to be having to discuss how big should a bond be. How often should it be. How much are we as voters prepared to commit to," said Don Haydon, with the Wake County Public School System.
Wake County voters approved a $1 billion bond referendum in 2006.
There's no word yet on exactly how much money the school system will be asking voters for this time around.
The bond could be on the ballot as early as next May.