Lopez Island School District Bond Measure (February 2012)
This measure was approved
- YES 705 (73.13%)
- NO 259 (26.87%)
This measure sought to issue a bond in the amount of $1 million in order to pay for a new sprinkler system in the elementary school building as well as make further upgrades to the heating and ventilation system in the school.
Text of measure
The question on the ballot:
This text is quoted verbatim from the original source. Any inconsistencies are attributed to the original source.
|The District’s Board of Directors adopted Resolution No. 4:2011-2012 regarding its proposal to issue bonds to finance capital improvements and other expenses. This measure provides for the issuance of $1,000,000 of General Obligation Bonds, maturing with a maximum term of 20 years, and to levy an annual property tax to pay and retire the bonds. The proceeds will repay an outstanding loan obligation which financed a new fire sprinkler system in the elementary school and an upgraded HVAC system for the District, as per the Resolution.|