Trinidad School District Number 1: Ballot Issue 4B General Obligation Bond
SHALL TRINIDAD SCHOOL DISTRICT NUMBER 1 DEBT BE INCREASED $4.75 MILLION WITH A REPAYMENT COST OF UP TO $7.65 MILLION, AND SHALL DISTRICT TAXES BE INCREASED UP TO $387,800 ANNUALLY, SUBJECT TO PROJECT MATCHING AWARD OF NOT LESS THAN $8.35 MILLION IN “BEST” GRANT FUNDS (WHICH ARE NOT REQUIRED TO BE REPAID), TO FINANCE THE
COSTS OF;
· CONSTRUCTING RENOVATIONS TOTALING $13.186 MILLION TO TRINIDAD MIDDLE SCHOOL IN ORDER TO MEET CURRENT HEALTH AND SAFETY STANDARDS, TO EXTEND THE USEFUL LIFE OF SAID FACILITY AND TO MEET THE EDUCATIONAL NEEDS OF THE DISTRICT’S STUDENTS;
BY THE ISSUANCE OF GENERAL OBLIGATION BONDS WITH THE CONDITION THAT SUCH DEBT SHALL NOT BE ISSUED UNLESS “BEST” GRANT FUNDS ARE APPROVED AND RECEIVED BY THE SCHOOL DISTRICT AND WHICH GENERAL OBLIGATION BOND, IF ISSUED, SHALL BEAR INTEREST, MATURE, BE SUBJECT TO REDEMPTION, WITH OR WITHOUT PREMIUM, 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?
