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SCHOOL DISTRICT QUESTION 1 (ISD #38)
APPROVAL TO INCUR
INDEBTEDNESS WITH A
MAXIMUM EFFORT CAPITAL
LOAN
Shall the School Board of
Independent School District No. 38,
Red Lake Minnesota be authorized
to incur indebtedness of the District
in the amount not to exceed
$35,586,000 for the purpose of
Building, Renovations, Additions,
Remodeling, and Demolition to the
High School, Middle School, Red
Lake and Ponemah Elementary
Schools and Red Lake Early
Childhood Center by applying for a
loan from the State of Minnesota's
maximum effort school loan fund in
such amount as may be available
to the District?
APPROVAL OF THIS QUESTION
DOES NOT GUARANTEE THAT
THE SCHOOL DISTRICT WILL
RECEIVE A CAPITAL LOAN
FROM THE STATE. THE LOAN
MUST BE APPROVED BY THE
STATE LEGISLATURE AND IS
DEPENDENT ON AVAILABLE
FUNDING.
Approve Maximum Effort Loan of
$35,586,000 for School District Buildings?
BY VOTING "YES" ON THIS
BALLOT QUESTION, YOU ARE
VOTING FOR A PROPERTY TAX
INCREASE.
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