NOTICE OF ELECTION TO THE QU...

NOTICE OF ELECTION

TO THE QUALIFIED VOTERS OF COWETA COUNTY SCHOOL SYSTEM:
NOTICE IS HEREBY GIVEN that on March 21, 2017, an election will be held at the regular polling places in all the election districts of the Coweta County School System (the "School System") (which embraces all of Coweta County), at which time there will be submitted to the qualified voters of the School System for their determination the question of whether a sales and use tax of one percent for educational purposes shall be continued on all sales and uses in Coweta County for a period of time of 20 calendar quarters commencing upon the expiration of the one percent sales and use tax currently in effect and for the raising of not more than $134,000,000 for the purpose of funding the capital outlay projects identified in the form of ballot below (the "Projects"). If the imposition of such tax is approved by the voters, such vote shall also authorize the School System to issue, but shall not obligate the School System to issue, general obligation debt in an aggregate principal amount not to exceed $60,000,000 (the "Debt"). The proceeds of the Debt will be used to fund the Projects, capitalized interest and the costs of issuing the Debt.
The Debt, if so authorized, may be issued by the School System in whole or in part and in one or more series in an aggregate principal amount not to exceed $60,000,000. The Debt shall bear interest at rates not to exceed 6% from its date of issuance or from such other date as may be designated by the School System prior to the issuance of the Debt. The actual rate or rates shall be determined in a supplemental resolution to be adopted by the School System prior to the issuance of the Debt. The maximum amount of principal to be paid in each year during the life of such Debt shall be as follows:
Year
Amount
2018
$11,325,000
2019
11,715,000
2020
12,005,000
2021
12,315,000
2022
12,640,000
Any brochures, listings or other advertisements issued by the Board or by any other person, firm, corporation or association with the knowledge and consent of the Board, shall be deemed to be a statement of intention of the Board concerning the use of the proceeds of the Debt, and such statement of intention shall be binding upon the Board in the expenditure of such Debt or interest received from such Debt to the extent provided in Section 36-82-1 of the Official Code of Georgia Annotated.
The ballots to be used at such election shall have written or printed thereon substantially the following:

 YES




 NO
Shall a special one percent sales and use tax for educational purposes be continued in Coweta County for a period of time not to exceed 20 calendar quarters and for the raising of not more than $134,000,000 for the purpose of funding the costs of (a) acquiring, constructing and equipping new school buildings, administration buildings, athletic buildings/facilities and other buildings and facilities useful or desirable in connection therewith, (b) adding to, renovating, repairing, improving and equipping existing school buildings, including, but not limited to, Newnan Crossing Elementary School, Arnall Middle School, Jefferson Parkway Elementary School, Thomas Crossroad Elementary School, and Northgate High School, administration buildings, athletic buildings/facilities and other buildings and facilities useful or desirable therewith, including, without limitation, the Central Educational Center and the Nixon Centre for Performing and Visual Arts, (c) acquiring, installing and equipping portable classrooms, (d) acquiring buses and other vehicles, (e) acquiring technology and (e) acquiring land for future facilities (the "Projects")? If the continuation of the tax is approved by the voters, such vote shall also authorize the Coweta County School System to issue, but shall not obligate the School System to issue, general obligation debt of the School System in the maximum principal amount of $60,000,000 for the above purposes.
Pursuant to O.C.G.A. Section 20-2-491, the School System will continue to ensure that performance audits or performance reviews on capital outlay projects funded by local sales tax are performed by an independent auditor, consultant or other provider to ensure proceeds are expended efficiently and economically. Pursuant to O.C.G.A. 3682100, the School System notifies all interested parties that no additional independent performance audit or performance review (the "Bond Audit") will be conducted with respect to the Debt. However, the School System will continue to ensure that Bond proceeds are expended efficiently and economically, as intended by the Bond Audit in this code section.
The several places for holding said election shall be at the regular and established voting precincts of the election districts of the School System, and the polls will be open from 7:00 a.m. to 7:00 p.m. on the date fixed for the election.
The last day to register to vote in this election is February, 21, 2017.
All residents of the School System qualified to vote at such election shall be determined in all respects in accordance with the election laws of the State of Georgia.
This notice is given pursuant to a resolution of the Coweta County Board of Elections.
Chairman, Coweta County Board of Elections
No.66116-2-16-23&3-2-9-16