La Veta RE-2 Ballot Issue 4A:
SHALL LA VETA SCHOOL DISTRICT RE-2 DEBT BE INCREASED BY UP TO $5.5 MILLION, WITH A REPAYMENT COST OF UP TO $8,750,000, AND SHALL DISTRICT TAXES BE INCREASED BY UP TO $458,000 ANNUALLY BY THE ISSUANCE AND PAYMENT OF GENERAL OBLIGATION BONDS TO PROVIDE LOCAL MATCHING MONEY REQUIRED FOR THE DISTRICT TO RECEIVE APPROXIMATELY $42,000,000 IN STATE GRANT FUNDS (WHICH ARE NOT REQUIRED TO BE REPAID) UNDER THE BUILDING EXCELLENT SCHOOLS TODAY (“BEST”) PROGRAM TO FINANCE THE COSTS OF:
· ACQUIRING, CONSTRUCTING, EQUIPPING, AND FURNISHING A CONSOLIDATED PK-12 FACILITY, INCLUDING ATHLETIC FACILITIES, ON DISTRICT OWNED PROPERTY, TO REPLACE THE EXISTING FACILITY; PROVIDED, HOWEVER, THAT NO DEBT SHALL BE ISSUED UNLESS A BEST GRANT IS RECEIVED; WITH SUCH GENERAL OBLIGATION BONDS TO BEAR INTEREST, MATURE, BE SUBJECT TO REDEMPTION, WITH OR WITHOUT PREMIUM OF NOT MORE THAN THREE PERCENT, 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 $458,000 ANNUALLY?
