Question - Bond Approval

Shall Queen Creek Unified School District No. 95 of Maricopa County, Arizona (the "School District"), be authorized to issue and sell general obligation bonds of the School District in the form of class B general obligation bonds in the principal amount of not to exceed $198,000,000 for the purpose of raising monies for purchasing or leasing school lots, building or renovating school buildings, supplying school buildings with furniture, equipment and technology, improving school grounds, purchasing pupil transportation vehicles and providing for other general capital expenses or for liquidating any indebtedness already incurred for such purposes for paying all legal, financial, engineering, architectural, project management and administration and other necessary costs in connection therewith and, in connection therewith as necessary, to purchase school sites and build school buildings, said bonds and any bonds issued to refund such bonds or other bonds of the School District to be sold for prices which may include premium in amounts permitted by applicalbe law and to be refundable by the issuance of refunding bonds of a weighted average maturity of less than 75% of the weighted average maturity of the bonds being refunded, to bear interest at a rate of not to exceed 12% per annum, payable semiannually on the first day of January and the first day of July of each year until the maturity of each bodn and at the option of the School District to be evidenced by separate supplemental interest certificates, to mature over a period of not more than 20 years from the date of their issuance, to be in the amount of %5,000 of principal amount each or multiples thereof and to mature on the first day of the same month of each year which may be either January or July? The issuance of these bonds will result in a property tax increase sufficient to pay the annual debt service on bonds. The capital improvements that are proposed to be funded through this bond issuance are to exceed the State stnadards and are in addition to moneys provided by the State. The School District is proposing to issue class B general Obligation bonds totaling $198,000,000 to fund capital improvements over and above those funded by the State. Under the Students FIRST Capital funding system, the School District is entitled to State moneys for new construction and renovation of school buildings in accordance with State law.