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SO WASH. CO. SCHOOLS TEN YEAR FACULTY PLAN

Friday, March 21, 2014 - 11:20pm

NOTICE OF INTENT TO LEVY AND TO
ISSUE ALTERNATIVE FACILITIES BONDS TO FINANCE
CERTAIN PROJECTS INCLUDED IN THE DISTRICT\'S
TEN-YEAR FACILITY PLAN
INDEPENDENT SCHOOL DISTRICT NO. 833
(SOUTH WASHINGTON COUNTY SCHOOLS)
STATE OF MINNESOTA
NOTICE IS HEREBY GIVEN that the School Board of Independent School District No. 833 (South Washington County Schools), State of Minnesota (the "District"), adopted a resolution (the "Resolution") on March 20, 2014, stating the intention of the School Board to levy pursuant to Minnesota Statutes, Section 123B.59 and to issue general obligation alternative facilities bonds (the "Bonds") in the total principal amount of not to exceed $14,840,000 pursuant to Minnesota Statutes, Section 123B.59 and Chapter 475, as amended. The levy proceeds and the proceeds of the Bonds will be used to fund the costs of the following projects at various District facilities as included in the District\'s ten-year facility plan approved by the School Board and the Commissioner of Education and related financing costs:
•deferred maintenance projects at school facilities and sites districtwide, including HVAC replacement, administrative and classroom space replacement, roof replacement and various maintenance, repair and replacement projects, as specified in the District\'s ten-year facility plan approved by the Commissioner of Education
The total cost of the proposed projects to be paid from levy and bond proceeds is estimated to be $17,718,193.
The total amount of District indebtedness as of March 20, 2014 is $257,195,000. If these proposed Bonds were issued, the total indebtedness of the District would be $272,035,000.
Dated: March 20, 2014
BY ORDER OF THE SCHOOL BOARD
/s/ Katy McElwee-Stevens
School District Clerk
Independent School District No. 833
(South Washington County Schools)
State of Minnesota
3/26/2014