Lamar School District RE-2 Ballot Issue 4A:
SHALL LAMAR SCHOOL DISTRICT DEBT BE INCREASED BY $3,950,000, WITH A REPAYMENT COST OF UP TO $6,500,000, AND SHALL DISTRICT TAXES BE INCREASED BY UP TO $325,000 ANNUALLY BY THE ISSUANCE AND PAYMENT OF GENERAL OBLIGATION BONDS TO PROVIDE LOCAL MATCHING MONEY REQUIRED FOR THE DISTRICT TO RECEIVE APPROXIMATELY $4,429,262 IN STATE GRANT FUNDS (WHICH ARE NOT REQUIRED TO BE REPAID) UNDER THE BUILDING EXCELLENT SCHOOLS TODAY (“BEST”) PROGRAM TO FINANCE THE COSTS OF PROVIDING:
· DISTRICT-WIDE SECURITY
MONITORING SYSTEM FOR ENHANCED
SCHOOL SAFETY AND SECURITY;
· FACILITY RENOVATIONS FOR
LAMAR HIGH SCHOOL AND PARTNERS FOR
HOPE CENTER, INCLUDING BUT NOT LIMITED
TO:
· NEW HVAC & CONTROL SYSTEMS;
· WINDOW REPLACEMENTS;
· DOOR REPLACEMENTS;
· ELECTRICAL UPGRADES;
· HAZARDOUS MATERIALS ABATEMENT;
· FIRE RESPONSE SYSTEM REPAIRS;
AND TO THE EXTENT REMAINING FUNDS ARE AVAILABLE FOR THE PURPOSE OF ACQUIRING, CONSTRUCTING, REPAIRING AND IMPROVING DISTRICT CAPITAL ASSETS, WITH SUCH GENERAL OBLIGATION BONDS TO BEAR INTEREST, MATURE, BE SUBJECT TO REDEMPTION, WITH OR WITHOUT PREMIUM OF NOT MORE THAN 3.00%, AND BE ISSUED AT SUCH TIME, AT SUCH PRICE (AT, ABOVE OR BELOW PAR) AND IN SUCH MANNER AND CONTAINING SUCH TERMS, NOT INCONSISTENT WITH THIS BALLOT ISSUE, AS THE BOARD OF EDUCATION MAY DETERMINE, AND SHALL AD VALOREM PROPERTY TAXES BE LEVIED WITHOUT LIMIT AS TO THE MILL RATE TO GENERATE AN AMOUNT SUFFICIENT IN EACH YEAR TO PAY THE PRINCIPAL OF, PREMIUM IF ANY, AND INTEREST ON SUCH DEBT AND TO FUND ANY RESERVES FOR THE PAYMENT THEREOF, PROVIDED THAT ANY REVENUE PRODUCED BY SUCH MILL LEVY SHALL NOT EXCEED $325,000 ANNUALLY?
