The Board of Riverview School District No. 407 passed Resolution No. 00-08 concerning this proposition which authorizes the District to construct and equip a physical education and athletics field, a track, restrooms, concession and ticket booth(s), and parking at Cedarcrest High School, issue $2,995,000 of general obligation bonds maturing within a maximum term of 20 years, and levy property taxes annually, in addition to regular tax levies to repay such bonds, all as provided in Resolution No. 00-08. Should this proposition be:

EXPLANATORY STATEMENT

Passage of Proposition No. 1 would allow the issuance of $2,995,000 of bonds by Riverview School District No. 407 (the "District") to provide funding for improvements to physical education and athletic facilities at Cedarcrest High School including a football/soccer field and track. The bonds would be repaid out of annual property tax levies over a period of 20 years. The exact amount of such annual levies for these bonds would depend on the amount of principal paid each year and on the interest rates available at the time the bonds are sold, but levies are expected to average approximately 13 cents per $1,000 of assessed value for the term of the bonds.