Shall the Board of Trustees (the “Board”) of Elementary School District No. 2 (Stevensville), Ravalli County, Montana (the “Elementary District”), be authorized to sell and issue general obligation bonds of the Elementary District in one or more series in the aggregate principal amount of up to Six Million Eight Hundred Seventy-Six Thousand and No/100 Dollars ($6,876,000), bearing interest at rates to be determined at the time of the sale, payable semiannually, during a term as to each series of bonds of not more than twenty (20) years, for the purpose paying the costs of designing, constructing, equipping, and furnishing improvements to the Elementary District facilities, to include improving the existing school buildings to accommodate growth, address safety concerns, and comply with Americans with Disabilities Act requirements by, among other things, upgrading or building classrooms, special education space, a new entry and administration area, and restrooms; reconfiguring the elementary gymnasium building and parking to enhance their functionality, including relocating elementary gymnasium access and parking to make student drop off and access to the playground area easier and safer; adding parking and playground improvements; making deferred maintenance improvements, including upgrading heating and electrical systems, window replacements, building a drainage system, and making safety and security upgrades; related improvements and costs (the “Elementary Project”); paying a portion of the costs of (i) building or improving a bus barn and a maintenance building (the “Bus Barn and Maintenance Building”), (ii) making additional deferred maintenance improvements to the high school gymnasium (the “High School Gymnasium Deferred Maintenance Improvements”), and (iii) building new or improved physical education/sports facilities, to include an all-weather track, a new building housing locker rooms, concessions, restrooms, and storage, and associated improvements such as a new trail and bridge and parking for access to the building, installing new grandstands and upgrading the media booth, and refurbishing tennis courts, related improvements and costs (the “PE and Sports Facilities”); and paying costs associated with the sale and issuance of the bonds?
The costs of the Bus Barn and Maintenance Building, High School Gymnasium Deferred Maintenance Improvements, and PE and Sports Facilities (collectively, the “Shared-Cost Improvements”) would be paid with a portion of the proceeds of the above Elementary District bonds and a portion of the proceeds of the Stevensville High School District bonds, authorization for which is sought simultaneously herewith. If the above proposition passes and the Stevensville High School District bonds do not pass, the Board will be authorized to pay one or more of the Shared-Cost Improvements that can be finished to completion with the proceeds of the Elementary District bonds remaining after paying costs of or related to the Elementary Project and with funds of the High School District, if available.