NOTICE IS HEREBY GIVEN that on the 6th day of March, 2012 an election will be held at the regular polling places in all the election districts of Butts County, at which time there will be submitted to the qualified voters of Butts County for their determination the following question:
Shall the special one percent (1%) sales and use tax for educational purposes currently in effect in Butts County be continued for a period of time not to exceed 20 calendar quarters and for the raising of not more than $25,000,000 for the purposes of (a) retiring debt service on the Butts County School District General Obligation Bonds, Series 2007 due on September 1, 2012, and (b) funding the following capital outlay projects: (i) rehabilitating, repairing, renovating, extending and improving Jackson High School, Henderson Middle School, Daughtry Elementary School, Jackson Elementary School and Stark Elementary School, including without limitation, additional classrooms, physical education and athletic facilities, roof replacements and repairs, mechanical system repairs and replacements, and wiring and infrastructure modifications; (ii) additional parking and paving at School District facilities; (iii) acquiring and installing system wide instructional and administrative technology, safety and security equipment; (iv) acquisition of school buses, vehicles and transportation and maintenance equipment; (v) acquisition of music, vocational, and physical education/athletic equipment; (vi) acquiring textbooks; (vii) renovating or adding to existing administrative facilities; (viii) acquiring any necessary property, both real and personal; and (ix) paying costs incident to accomplishing the foregoing?
The ballot shall have written or printed thereon, in addition to the question set forth above, the following:
If imposition of the tax is approved by the voters, such vote shall also constitute approval of the issuance of general obligation debt of the Butts County School District in the principal amount of up to $7,500,000, repayable from the proceeds of the aforesaid sales and use tax, for the purpose of retiring the Series 2007 general obligation bonds and funding such portions of the Projects as may be acquired, constructed and equipped with the proceeds of general obligation debt.
The maximum cost of the capital outlay projects for educational purposes described in the above ballot question to be funded with Special 1% Tax proceeds, including interest, capitalized interest, principal, and costs of issuance on the general obligation debt to be incurred, shall be $25,000,000. To the extent available, the Butts County School District may combine available funds from any state or federal governmental source to which the Butts County School District may be entitled to pay the costs of its capital outlay projects, and it may choose what capital outlay projects to undertake or not undertake or to delay until additional funding is available to the extent that the proceeds of the Special 1% Tax and general obligation debt are insufficient to complete any of the capital outlay projects.
Plans and specifications for the capital outlay projects described in the above ballot question have not been initiated and bids have not been received. Depending upon acquisition and construction costs and available funds, the Butts County Board of Education may add to, modify, or delete specific projects.
If the Special 1% Tax is to be reimposed, the Butts County School District may issue general obligation debt in an aggregate principal amount not to exceed $7,500,000. The proceeds from such general obligation debt, if issued, shall be used to fund all or a portion of the above described capital outlay projects. The maximum rate or rates of interest on such debt shall not exceed six percent (6.0%) per annum and the maximum amount of principal to be paid in each year during the life of the debt shall be as follows:
October 1
of the Year Amount
2013 $1,400,000
2014 1,450,000
2015 1,500,000
2016 1,550,000
2017 1,600,000
The principal and interest on the Debt shall be secured by the proceeds of the sales and use tax and shall be payable in lawful money of the United States of America at a paying agent bank that will be designated by the Butts County School District prior to the issuance of the debt.
Any brochures, listings or other advertisements issued by the Butts County School District or by any other person, firm, corporation or association with the knowledge and consent of the Butts County School District shall be deemed to be a statement of intention of the Butts County School District concerning the use of the proceeds of the debt.
The several places for holding said election shall be at the regular and established voting precincts of the election districts of Butts County, Georgia, 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 shall be Tuesday, February 6, 2012 through 5:00 p.m.
Those residents of Butts County 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 Butts County Board of Education and a resolution of the Butts County Board of Elections and Registration. /s/ Ernest Battle
/s/ Fred Head
Chairman, Butts County Board of Elections
and Registration