(First published in the Gardner News on December 14, 2011 and subsequently on December 21, 2011.)
NOTICE OF BOND ELECTION
UNIFIED SCHOOL DISTRICT NO. 231,
JOHNSON COUNTY, KANSAS (GARDNER-EDGERTON)
The Board of Education of Unified School District No. 231, Johnson County, Kansas (Gardner-Edgerton) (the “District”), has heretofore, pursuant to a resolution duly adopted, declared it necessary and advisable to acquire sites and acquire, construct, equip, furnish, repair, remodel or make additions to buildings used for school district purposes including (a) constructing, equipping and furnishing a new elementary school, a new middle school and a new multipurpose activity center addition to the high school, (b) repairing, renovating, remodeling, making additions to and equipping and furnishing existing school district facilities, (c) making technology upgrades and improvements, (d) refinancing the acquisition of sites for school district purposes and (e) making all other necessary improvements to school district facilities and paying fees and expenses incidental thereto, at an estimated cost of $72,790,000. Notice is hereby given to the qualified electors of the District that a bond election has been called and will be held on January 31, 2012, for the purpose of submitting to the qualified electors of the District the following proposition:
Shall the following be adopted?
Shall Unified School District No. 231, Johnson County, Kansas (Gardner-Edgerton), issue school district general obligation bonds in an amount not exceeding $72,790,000 to pay the cost to acquire sites and acquire, construct, equip, furnish, repair, remodel or make additions to buildings used for school district purposes including (a) constructing, equipping and furnishing a new elementary school, a new middle school and a new multipurpose activity center addition to the high school, (b) repairing, renovating, remodeling, making additions to and equipping and furnishing existing school district facilities, (c) making technology upgrades and improvements, (d) refinancing the acquisition of sites for school district purposes and (e) making all other necessary improvements to school district facilities and paying fees and expenses incidental thereto, all pursuant to K.S.A. 10-101 et seq., K.S.A. 25-431 et seq., K.S.A. 25-2018(f), K.S.A. 72-6761 and K.S.A. 75-2315 et seq.?
To vote in favor of any question submitted on this ballot, darken the oval to the left of the word “Yes.” To vote against it, darken the oval to the left of the word “No.”
YES
NO
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This election will be conducted in accordance with K.S.A. 25-431 et seq. (the “Mail Ballot Election Act”). The Johnson County Election Commissioner shall conduct the election by mailing an official ballot to each qualified elector in the District registered at least thirty (30) days prior to the date of election, not sooner than the 20th day before the date of the election and not later than the 10th day before the election. The Johnson County Election Commissioner anticipates mailing ballots for this bond election to all qualified voters on or about January 10, 2012. Instructions on how to mark the ballot to vote either for or against the proposition submitted thereon will accompany the ballots, together with a stamped, addressed return identification envelope in which the marked ballot must be placed.
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IT IS IMPORTANT FOR EACH QUALIFIED VOTER TO NOTE THAT YOUR BALLOT CANNOT BE COUNTED UNLESS YOU TAKE THE APPROPRIATE STEPS:
(1) You must personally sign and place your correct address on the return identification envelope;
(2) If you choose to mail your ballot, you must put it in the identification envelope and place it in the United States mail early enough so that it will be received by the Johnson County Election Officer not later than January 31, 2012;
(3) If you elect not to mail your ballot, you must PERSONALLY deliver their ballot in the return identification envelope to the office of the Johnson County Election Officer, 2101 East Kansas City Road, Olathe, Kansas, at any time during regular business hours from 8:00 A.M. to 5:00 P.M., Monday through Friday, but before 12:00 Noon on January 31, 2012.
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If the ballot of a qualified elector is destroyed, spoiled, lost or not received in the mail by the qualified elector, or if an elector registers within thirty (30) days of the election, a ballot or replacement ballot may be obtained from the Johnson County Election Commissioner. Persons qualified to receive a replacement ballot may do so by signing an application prepared by the Johnson County Election Commissioner and submitting the application by mail or in person at the office of the Johnson County Election Commissioner at the above address.
Persons not registered to vote can become eligible to vote at this special bond election by registering to vote at a voter registration location prior to the close of business on January 10, 2012. However, persons registering after January 1, 2012, through January 10, 2012, must apply in writing at the Johnson County Election Commissioner’s office in order to receive a ballot.
The authority to conduct this bond election called by the District under the provisions of the Mail Ballot Election Act, does not authorize the use of voting machines or written ballots located at the usual polling places for the District. Consequently, all qualified electors of the District are hereby notified that no polling places will be open during the bond election, and all ballots must be cast in the manner specified herein and in accordance with the voting instructions which will be sent to all qualified electors with the official mail ballot.
Telephone inquiries from qualified electors having additional questions about the procedure to follow in order to vote in this election may be made by calling the Johnson County Election Commissioner at (913) 782-3441.
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ADDITIONAL INFORMATION
The following additional information is provided by the District with respect to compliance with the provisions of K.S.A. 10-120a and K.S.A. 12-6,122. This information has been obtained from sources deemed reliable by the District. Certain portions of this information is based upon projections. No assurances can be given that these projections will be accurate as of the date of issuance of the bonds due to changing market conditions, any changes in assessed valuation of the District, changes in the amount of state financial aid received by the District and other matters unknown or unavailable at this time. The projected rates of property taxation to be used to pay the principal of and interest on the Bonds are based upon the current assessed valuation of the District, the assumed principal repayment schedule and the average interest rates from recent bond issues for similar types of financings and the current level of state financial aid the District would receive with respect to the bonds, all as shown below.
Projected Summary of Project Costs
Sources of Funds Uses of Funds
Bonds to be Issued $72,790,000 Project Costs (including architectural/engineering services) $72,558,185
Interest During Construction 39,500
Interest Earnings 39,500 Issuance Expenses (including attorney fees, printing costs, rating agency fees, financial advisor fees, underwriting fees and other miscellaneous expenses)
231,815
Total $72,829,500 Total $72,829,500
Projected Summary of Bond Issue Repayments
Principal payments for 3 bond issues each
repaid over 20 years with 2034 being the
final maturity Average Interest Rate 4.75%
Total Interest Cost to Maturity $50,792,185 Assessed Valuation (2011) $253,169,317
(with motor vehicles)
Average Annual Principal and Interest Payments $5,617,732
Percentage of annual principal and interest payments from State aid (2011-2012) 35%
Percentage of annual principal and interest payments from District funds (2011-12) 65%
Average Annual Property Tax Mill Levy Rate for Principal and Interest Payments
Actual 2011-2012 Bond and Interest Fund Levy 32.339 Mills
Estimated Maximum Increase in Mill Levy to pay new bonds 2.999 Mills
Estimated Future Bond and Interest Fund Levy (with current and projected
future levels of State financial aid) 35.338 Mills
The election officer conducting the election will be the County Election Commissioner of Johnson County, Kansas, whose address is 2101 East Kansas City Road, Olathe, Kansas 66061.
DATED: December 5, 2011.
(Seal)
/s/ Brian D. Newby
County Election Commissioner
Johnson County, Kansas