CARBON VALLEY PARKS AND RECREATION DISTRICT BALLOT ISSUE 6B – COMMUNITY RECREATION CENTER GENERAL OBLIGATION BOND –
SHALL CARBON VALLEY PARKS AND RECREATION DISTRICT DEBT BE INCREASED UP TO $29 MILLION, WITH A MAXIMUM REPAYMENT COST OF UP TO $48.5 MILLION, AND SHALL DISTRICT TAXES BE INCREASED UP TO $1.7 MILLION ANNUALLY FOR A PERIOD NOT EXCEEDING THIRTY (30) YEARS TO ADDRESS THE GROWING NEEDS AND EXPANDED SERVICES OF THE DISTRICT BY FINANCING THE COSTS OF CONSTRUCTING AND EQUIPPING A SECOND COMMUNITY RECREATION CENTER WHICH INCLUDES,
– INDOOR AND OUTDOOR POOLS,
– A MULTI-PURPOSE GYM WITH A RUNNING/WALKING TRACK,
– A CARDIO AND WEIGHT ROOM,
– A FITNESS AND CLASSROOM SPACE,
– A GROUP MEETING AND COMMUNITY ROOM, AND
– AN ONSITE CHILD WATCH AREA,
SUCH DEBT TO CONSIST OF THE ISSUANCE AND PAYMENT OF GENERAL OBLIGATION BONDS WHICH SHALL BEAR INTEREST AT A MAXIMUM NET EFFECTIVE INTEREST RATE NOT TO EXCEED 3.75% PER ANNUM AND BE ISSUED AT SUCH TIMES AND PRICES (AT, ABOVE OR BELOW PAR) AND IN SUCH MANNER AND CONTAINING SUCH TERMS, NOT INCONSISTENT HEREWITH, AS THE BOARD OF DIRECTORS MAY DETERMINE; AND SHALL AD VALOREM PROPERTY TAXES BE LEVIED WITHOUT LIMIT AS TO THE MILL RATE TO GENERATE AMOUNTS, NOT TO EXCEED THE AMOUNTS SET FORTH ABOVE, SUFFICIENT IN EACH YEAR TO PAY THE PRINCIPAL OF AND INTEREST ON SUCH DEBT?
