A bond referendum allows the district to generate the funds needed for upgrades and additional classrooms at the Elementary School - with the added benefit of $7.76 million in state aid to offset the local tax impact. 

Form of the Bond Proposal Question

BOND PROPOSAL QUESTION NO. 1

The Board of Education of the City of South Amboy in the County of Middlesex, New Jersey is

authorized: (a) to provide for renovations, alterations and improvements at South Amboy Elementary School and South Amboy Middle/High School, including acquisition and installation of fixtures, furnishings and equipment, sitework and related work and costs; (b) to appropriate $20,735,045 for such purposes and (c) to issue bonds of the school district therefor in the principal amount of $20,735,045.

The final eligible costs of these projects authorized by this bond proposal and approved by the Commissioner of Education are $20,735,045 (with $4,109,585 allocated to South Amboy Elementary School and $16,625,460 allocated to South Amboy Middle/High School). The projects include $0 for elements in addition to the facilities efficiency standards developed by the Commissioner of Education or not otherwise eligible for State support pursuant to N.J.S.A. 18A:7G-5(g). The State debt service aid percentage will equal 40% of the annual debt service due with respect to the final eligible costs of the projects. The Board of Education is authorized to transfer funds among the projects approved at this election.

Do you approve this bond proposal?

BOND PROPOSAL QUESTION NO. 2

(This Bond Proposal No. 2 will only go into effect if both Bond Proposal No. 1 and this Bond Proposal No. 2 are approved by the voters at this election). The Board of Education of the City of South Amboy in the County of Middlesex, New Jersey is authorized: (a) to provide for an addition at South Amboy Elementary School, including acquisition and installation of fixtures, furnishings and equipment, sitework and related work and costs; (b) to appropriate $10,475,952 for such purposes and (c) to issue bonds of the school district therefor in the principal amount of $10,475,952. The final eligible costs of the projects authorized by this bond proposal and approved by the Commissioner of Education are $2,087,800. The projects include $0 for elements in addition to the facilities efficiency standards developed by the Commissioner of Education or not otherwise eligible for State support pursuant to N.J.S.A. 18A:7G-5(g). The State debt service aid percentage will equal 40% of the annual debt service due with respect to the final eligible costs of the projects. The Board of Education is authorized to transfer funds among the projects approved at this election.

Do you approve this bond proposal?

INTERPRETIVE STATEMENT

If both bond proposals are approved by the voters at this election, the Board of Education will be authorized to undertake school capital projects for a total cost of $31,210,997 and to issue bonds in the total principal amount of $31,210,997 to fund the projects. The aggregate amount of the final eligible costs of the projects approved by the Commissioner of Education is $22,822,845 (with $6,197,385 allocated to South Amboy Elementary School and $16,625,460 allocated to South Amboy Middle/High School). The projects include $0 for elements in addition to the facilities efficiency standards developed by the Commissioner of Education or not otherwise eligible for State support pursuant to N.J.S.A. 18A:7G-5(g). The State debt service aid percentage will equal 40% of the annual debt service due with respect to the final eligible costs of the projects approved at this election.