Ballot Issue 3C - Aurora Public Schools Debt Increase

SHALL JOINT SCHOOL DISTRICT NO. 28J (AURORA PUBLIC SCHOOLS) DEBT BE INCREASED BY $300 MILLION, WITH A REPAYMENT COST OF $498 MILLION, AND SHALL DISTRICT TAXES BE INCREASED $49 MILLION ANNUALLY, WITH THE PROCEEDS OF SUCH DEBT TO BE USED, TOGETHER WITH ANY FINANCIAL ASSISTANCE FROM THE STATE UNDER THE BUILDING EXCELLENT SCHOOLS TODAY ACT ("BEST") OR OTHER GRANT PROGRAMS, FOR THE PURPOSE OF PROVIDING CAPITAL ASSETS FOR DISTRICT PURPOSES, WHICH MAY INCLUDE BUT ARE NOT LIMITED TO THE FOLLOWING: - ADDING CLASSROOM SPACE AT OVERCROWDED SCHOOLS; - PROTECTING STUDENTS AND STAFF BY REPLACING OR REPAIRING LEAKING ROOFS ON SCHOOL BUILDINGS; - ADDING SECURITY CAMERAS AND NEW BUILDING SECURITY SYSTEMS TO ENHANCE STUDENT AND STAFF SAFETY; - UPGRADING COMPUTER AND INTERNET Page | 7 TECHNOLOGY AT ALL SCHOOLS; - REPAIRING OR REPLACING AGING HEATING AND AIR CONDITIONING SYSTEMS WITH ENERGY EFFICIENT SYSTEMS; - BUILDING A NEW MIDDLE SCHOOL TO REPLACE MRACHEK MIDDLE SCHOOL (TO BE FUNDED IN PART WITH A "BEST" GRANT WHICH REQUIRES PASSAGE OF THIS BALLOT ISSUE); - BUILDING A NEW 6TH GRADE THROUGH 12TH GRADE SCHOOL IN NORTHWEST AURORA AND A NEW PRESCHOOL THROUGH 8TH GRADE SCHOOL IN EAST AURORA; - REMODELING AND MAKING CLASSROOM IMPROVEMENTS AND ADDITIONS TO OLDER SCHOOLS; - CONSTRUCTING A BUILDING THAT THE SCHOOL DISTRICT MAY LEASE TO A STATE INSTITUTION OF HIGHER EDUCATION; AND - MAKING REPAIRS AND IMPROVEMENTS TO EVERY SCHOOL DISTRICTWIDE; AND SHALL THE MILL LEVY BE INCREASED IN ANY YEAR WITHOUT LIMITATION AS TO RATE BUT IN NO EVENT MORE THAN $49 MILLION ANNUALLY, 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 TO INVESTORS OR ISSUED TO THE STATE TREASURER UNDER THE "BEST" PROGRAM 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 1%; 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, EACH AS CERTIFIED BY THE COUNTY ASSESSORS OF ADAMS AND ARAPAHOE COUNTIES?