Shall the Town of Gorham authorize the issuance of general obligation bonds and/or notes in anticipation of such bonds in a principal amount not to exceed $9,494,575.00 and to appropriate the proceeds thereof for the purpose of financing costs of the:
Gorham High School Cafeteria expansion and modular Phase I additions (six classrooms, one adult education, bathrooms, utility room and other related expenses); and
HVAC system at Narragansett Elementary School, with the bonds and notes to be issued...
Fiscal Note: The total estimated debt service of the bonds authorized by this question is $12,691,377, of which principal is $9,494,575 and estimated interest at 3.18% over 20 years is $3,196,802.
The Town Council Recommends a "Yes" vote (5 in favor/2 opposed).