2006 School Warrant Article 19

Shall the Pelham School District raise and appropriate the sum of SIXTEEN MILLION DOLLARS ($16,000,000) by authorizing the SCHOOL BOARD to issue not more than SIXTEEN MILLION DOLLARS ($16,000,000) to bond or notes in accordance with the provisions of the Municipal Finance Act (RSA Ch.33)said sum to be used for the construction, planning and engineering, furnishing and equipping of a not less than a 50,000 square foot classroom addition on the current site for Pelham High School (grades 9-12), renovations and site work as determined necessary by the School Board, applications for permits to ensure state reimbursement, and authorize the School Board to issue and negotiate the said bonds or notes and determine the rate of interest thereon and the date of maturity thereof, and further, raise and appropriate the sum of FOUR HUNDRED THOUSAND DOLLARS ($400,000) for the first interest installment due on the bonds, bond term no shorter than ten years, no greater than twenty years. (3/5 majority vote required). Passage of this article shall override the ten percent limitation imposed on this appropriation due to the non-recommendation of the budget committee. (Submitted by Petition) (Estimated tax impact $2.27 for 10 year bond) (Estimated tax impact $1.40 for 20 year bond) (Not Recommended by the Pelham School Board) (Not Recommended by the Pelham Budget Committee)