ESPLOST - Lumpkin County Special-purpose Local-option Sales Tax

Shall a total of $25,000,000 in aggregate principal amount of Lumpkin County School District general obligation debt (the "Bonds") be issued for the purpose of providing funds to pay (i) a portion of the costs of the following projects for the School District: (a) the acquisition, construction, equipping and furnishing of new school buildings and facilities, including, but not limited to, a new elementary school facility and related facilities, (b) the addition, renovation, repair, upgrading, remediation and improvement of existing school buildings, athletic facilities and other School District facilities and property, (c) the acquisition of technology equipment, computer software and hardware, safety and security equipment and other school equipment, (d) the acquisition of school buses, other school vehicles, and other transportation equipment and facilities, (e) the acquisition of textbooks, instructional resources, band instruments and other musical instruments, (f) the acquisition of land, and (g) the acquisition of any capital property necessary or desirable for the foregoing purposes, both real and personal (the "Projects"), (ii) capitalized interest on the Bonds through and including December 1, 2021, and (iii) the costs of issuing the Bonds; and shall a special one percent sales and use tax be continued In Lumpkin County for a period of time not to exceed 20 calendar quarters and for the raising of not more than $25,000,000, for the purpose of funding (a) the payment of a portion of the principal of and interest on the Bonds, the maximum amount of debt service to be paid on the Bonds not to exceed $11,445,100, (b) the payment of a portion of the contract payments owed by the School District under an intergovernmental Contract dated as of December 1, 2018 with the Lumpkin County Public Building Authority, and a portion of the installment payments owed by the School District under an Installment Sale Agreement, dated as of June 14, 2017, with the Georgia Municipal Association, the maximum amount of such payments not to exceed $4,081,907, and (c) a portion of the costs of the Projects, the maximum amount of the Projects to be funded will not exceed the balance of the one percent sales and use tax proceeds?