Financial Impact analysis

Bond Language

“A RESOLUTION SUBMITTING TO THE QUALIFIED ELECTORS OF THE DISTRICT THE QUESTION OF ISSUING GENERAL OBLIGATION SCHOOL BUILDING BONDS OF K-12 SCHOOL DISTRICT NO. 26 (LOCKWOOD), YELLOWSTONE COUNTY, MONTANA IN THE AGGREGATE PRINCIPAL AMOUNT OF UP TO FORTY-NINE MILLION NINE HUNDRED THOUSAND AND NO/100 DOLLARS ($49,900,000.00) FOR THE PURPOSE OF ACCOMMODATING K-12 STUDENT ENROLLMENT BY PAYING THE COSTS OF DESIGNING, CONSTRUCTING, FURNISHING AND EQUIPPING ON THE EXISTING SCHOOL CAMPUS A NEW HIGH SCHOOL THAT INCLUDES A PERFORMANCE STAGE WITH A SEATING AREA AND MAKING ASSOCIATED IMPROVEMENTS, TO INCLUDE SAFETY UPGRADES SUCH AS A NEW INTEGRATED INTERCOM SYSTEM THAT ALLOWS COMMUNICATION AMONG THE SCHOOL BUILDINGS, NEW VOCATIONAL AGRICULTURE AND CAREER TRAINING FACILITIES, AND SITE WORK SUCH AS UTILITIES, ROADWAY IMPROVEMENTS, SIDEWALKS, PARKING LOTS AND TRAFFIC FLOW ENHANCEMENTS, PLAYING FIELDS AND BLEACHERS, AND ASSOCIATED IMPROVEMENTS, AND IN CONJUNCTION WITH THE HIGH SCHOOL BUILDING IMPROVEMENTS, RE-CONFIGURING CERTAIN SCHOOL FACILITIES CURRENTLY SERVING GRADES KINDERGARTEN THROUGH 8, MAKING ROOF IMPROVEMENTS TO THE ELEMENTARY SCHOOL BUILDING, AND, IF BOND PROCEEDS ARE AVAILABLE, EXPANDING LUNCHROOM SPACE IN THE EXISTING SCHOOL FACILITIES AND ACQUIRING REAL PROPERTY LOCATED CONTIGUOUS TO THE EXISTING SCHOOL CAMPUS ON WHICH TO LOCATE IMPROVEMENTS TO ADDRESS INCREASES IN STUDENT ENROLLMENT; RELATED IMPROVEMENTS AND COSTS; AND PAYING THE COSTS ASSOCIATED WITH THE SALE AND ISSUANCE OF THE BONDS”

OFFICIAL BALLOT LANGUAGE

K-12 SCHOOL DISTRICT NO. 26 (LOCKWOOD) YELLOWSTONE COUNTY, MONTANA

SCHOOL BOND ELECTION TO BE CONDUCTED BY MAIL BALLOT ON MAY 8, 2018

INSTRUCTIONS TO VOTERS: Make an X or similar mark in the vacant square before the words “BONDS – YES” if you wish to vote for the bond issue; if you are opposed to the bond issue, make an X or similar mark in the square before the words “BONDS – NO.”

Shall the Board of Trustees of K-12 School District No. 26 (Lockwood), Yellowstone County, Montana (the “District”), be authorized to sell and issue general obligation bonds of the District in one or more series in the aggregate principal amount of up to Forty-Nine Million Nine Hundred Thousand and No/100 Dollars ($49,900,000.00), bearing interest at rates to be determined at the time of the sale, payable semiannually, during a term of not more than twenty (20) years as to each series of bonds, for the purpose of accommodating K-12 student enrollment by paying the costs of designing, constructing, furnishing and equipping on the existing school campus a new high school that includes a performance stage with a seating area and making associated improvements, to include safety upgrades such as a new integrated intercom system that allows communication among the school buildings, new vocational agriculture and career training facilities, and site work such as utilities, roadway improvements, sidewalks, parking lots and traffic flow enhancements, playing fields and bleachers, and associated improvements, and in conjunction with the high school building improvements, reconfiguring certain school facilities currently serving grades kindergarten through 8, making roof improvements to the elementary school building, and, if bond proceeds are available, expanding lunchroom space in the existing school facilities and acquiring real property located contiguous to the existing school campus on which to locate improvements to address increases in student enrollment; related improvements and costs; and paying the costs associated with the sale and issuance of the bonds?

BONDS – YES

BONDS – NO