Centennial School District 28j

Shall the District issue $65,000,000 bonds for school security and facility improvements and receive a $7,494,690 State matching grant? If the bonds are approved, they will be payable from taxes on property or property ownership that are not subject to the limits of sections 11 and 11b, Article XI of the Oregon Constitution.[2]

The State awarded Centennial School District No. 28Jt a $7,494,690 matching grant if the bonds are approved. If bonds are not approved, grant funds will be distributed to another district.

If approved, the bonds will fund school facility capital projects, including:

• Repairing and replacing roofs, boilers, foundations, windows and flooring, and other school facility improvements
• Upgrading school safety and security systems
• Adding gymnasiums to four schools that have no dedicated gyms
• Repurposing Oliver Elementary back into a middle school, including library, science, locker rooms and career technical improvements
• Refinancing existing capital obligations and paying bond issuance costs

Bonds would mature in 30 years or less from issuance date and may be issued in one or more series. The existing tax rate of approximately $1.19 per $1,000 of assessed is projected to continue with no expected increase. Actual levy rates may vary based upon interest rates incurred and changes in assessed value.