Arlee School District JT&8 Ballot Measure - Arlee School District JT&8 General Obligation Bonds Election Lake, Missoula, Sanders Counties

Shall the Board of Trustees (the ""Board"") of Elementary School District No. JT&8 (Arlee), Lake, Missoula and Sanders Counties, Montana (the ""District"") be authorized to sell and issue general obligation bonds of the District in the total principal amount of up to Six Million Dollars ($6,000,000), bearing interest at a rate or rates to be determined at the time of sale, payable semiannually during a term of not more than 25 years, for the purpose of paying a portion of the costs of designing, constructing, furnishing, and equipping an addition to the existing kindergarten through second grade building to create a consolidated kindergarten through sixth grade building, including classrooms and support spaces, a new library, administrative offices, and restrooms; upgrading mechanical, mechanical, electrical, and information technology systems; reconfiguring existing kindergarten through second grade spaces; selective removal and/or repurposing of the existing grades three through six building; and site and utility work; related improvements and costs; and paying costs associated with the sale and issuance of the bonds? The full faith and credit and taxing power of the District will be pledged to the repayment of the District's general obligation bonds. The District may also use other available funds, including federal impact aid basic support payments to the extent available and within limitations, to pay debt service on the general obligation bonds. The total cost of designing, constructing, furnishing, and equipping the new school facility is estimated to be $14,500,000. Costs in excess of the proceeds of the proposed bonds are anticipated to be paid by the proceeds of impact aid revenue bonds, in the total principal amount of up to $3,000,000 (the ""Impact Aid Bonds""), authorization for which is sought simultaneously with the above bonds, and a grant and other funds available to the District in the total amount of $5,500,000. If the above proposition passes and the proposition on the Impact Aid Bonds does not pass, the Board is authorized to issue the above General Obligation Bonds to pay costs of enlarging the existing kindergarten through second grade school building; provided, however, certain of the improvements noted in the ballot question above may not be constructed.