Calhan School District RJ1 Ballot Issue 5B -

Shall Calhan School District RJ1 debt be increased by $15,800,000, with a repayment cost of $24,593,150, and shall District taxes be increased $1,233,000 annually, with the proceeds of such debt to be used, together with any financial assistance from grant programs, if any, for the purpose of providing capital assets for District purposes, which may include but are not limited to the following: 1. improving safety and security at school buildings, including upgrading school safety equipment; 2. providing a career, technical, and innovation center, in order to provide college-level courses and career-focused learning for more students; 3. providing a performing arts center; 4. improvements to athletic facilities on school properties; 5. repairing, renovating, equipping, or re-constructing aged district properties to be safer, more efficient, owned property in order to provide additional instructional space, safety and security upgrades, updated technology; improved academic and athletic facilities; and shall the mill levy be increased in any year without limitation as to rate, which amount shall be sufficient to pay the principal of and premium, if any, and interest on such debt or any refunding debt when due; the authority for such tax and mill levy increase to terminate when the debt or refunding debt is paid; such debt to be evidenced by the issuance of general obligation bonds or other multiple fiscal year financial obligations which may be sold from time to time in an aggregate amount not to exceed the maximum authorized principal amount and repayment cost, on terms and conditions as the District may determine, including provisions for redemption of the bonds prior to maturity with or without payment of the premium not to exceed 3%; and shall the District's debt limit be increased from an amount equal to 20% of the District's assessed value to an amount equal to 6% of the District's actual value, as certified by the county assessors of El Paso and Elbert Counties?