Metuchen borough: Question 1 - Reconfiguration Improvements Bond Proposal

The Board of Education of the Borough of Metuchen in the County of Middlesex, New Jersey is authorized: (a) to provide for additions, renovations, alterations and improvements at Moss Elementary School, Campbell Elementary School, Edgar Middle School and Metuchen High School, including fixtures, furnishings, equipment, site work and related work; (b) to appropriate $71,682,187 for such purposes, including $2,200,000 from capital reserve, and (c) to issue bonds of the school district in the principal amount of $69,482,187. The final eligible costs of the projects approved by the Commissioner of Education are $29,816,978 (with $9,910,468 allocated to Moss Elementary School, $6,200,344 allocated to Campbell Elementary School, $4,259,924 allocated to Edgar Middle School and $9,446,242 allocated to Metuchen High School. The cost of the projects includes $377,520 allocated to Moss Elementary School, $26,455 allocated to Campbell Elementary School, $2,120,690 allocated to Edgar Middle School, and $2,204,345 allocated to Metuchen High School 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 facilities projects approved at this election. This Bond Proposal in Question No. 1 will take effect only if the Additional Spending Proposal Question No. 2 is also approved by the voters at this Annual Election. Do you approve this bond proposal?