Ballot Issue 5A

Shall Montrose Recreation District debt be increased up to $5,000,000, with a maximum repayment cost of up to $6,895,000, and shall district taxes be increased up to $585,000 annually for the purpose of constructing, remodeling, and making additions to the aquatic center which may include, but are not limited to, the following: constructing multipurpose programmable spaces to include classroom(s), multi-purpose room(s), gymnasium(s), and a suspended walking/jogging track; constructing auxiliary service areas including lobby, front desk, storage areas, and bathrooms; and remodeling the existing facility to convert the upstairs balcony to a fitness exercise area, to modify the women's locker-room layout to allow for family changing room(s), and to convert the upstairs space to offices, workroom, and a kitchenette; such dept to consist of the issuance and payment of general obligation bonds, which bonds shall bear interest at a maximum net effective interest rate not to exceed 5.85% per annum, shall mature not later than thirteen years from the date of issuance of the bonds, and shall be issued, dated and sold at such time or times, at such prices (at, above or below par) and in such manner and containing such terms, not inconsistent shall ad valorem property taxes be leveied in any year, without limitation as to rate and an amount sufficient to pay the principal of, premium if any, and interest on such bonds as the same become due; and shall the earnings on the investment of the revenues from such taxes and the proceeds of such bonds (regardless of amount) constitute a voter-approved revenue change?