Neptune City Board of Education Bond Proposal: $6,987,840 for Woodrow Wilson School improvements

The question, as printed on the ballot

The Board of Education of the Borough of Neptune City in the County of Monmouth, New Jersey (the “Board”) is authorized to (a) undertake various improvements, renovations, and upgrades at Woodrow Wilson School, including but not limited to the replacement of various portions of roofing, various HVAC and electrical repairs and upgrades, renovations to toilet rooms, and various improvements to the corridor, including acquisition and installation of fixtures, equipment, and any site work; (b) appropriate $6,987,840 for such acquisition and improvements; and (c) issue bonds in an amount not to exceed $6,987,840. The final eligible costs for the projects approved by the New Jersey Commissioner of Education are $6,987,840. The projects include $0 for school facility construction elements in addition to the facilities efficiency standards developed by the Commissioner of Education or not otherwise eligible for State of New Jersey (the "State”) support pursuant to N.J.S.A. 18A:7G-5(g). The State debt service aid percentage is equal to 40% of the annual debt service due with respect to the final eligible costs of the projects. The Board of Education is authorized to transfer funds among the projects approved at this election. Do you approve this Bond Proposal Question?