Referred to the People by the District Board

jefferson fire district capital improvement seven-Year general obligation bond

Question: Shall the District levy $0.60 per $1,000 tax assessed value for seven-years starting 2003-2004 to finance capital improvements? If the bonds are approved, they will be payable from taxes on property or property ownership that are not subject to the limits of sections 11 and 11b, Article XI of the Oregon Constitution.

Summary: The Board of Directors of the Jefferson Rural Fire Protection District has determined that the capital improvements (including equipment) and construction are needed in the District.

The improvements would serve the needs of the community. This bond funds capital improvements and construction including the acquisition of equipment, costs of borrowing, design, site improvements, construction, fixtures and furnishing the facility and related costs.

This seven-year general obligation bond tax would start July 1, 2003 and is computed each year at a rate of 60 cents for each thousand dollars of assessed value. The District may issue bonds or other obligations payable from this levy to finance the acquisition of the equipment and improvements.

An estimate of the total amount to be raised each fiscal year is:

2003-2004 $252,442.20

2004-2005 $260,015.40

2005-2006 $267,816.00

2006-2007 $275,850.00

2007-2008 $284,125.80

2008-2009 $292,649.40

2009-2010 $301,429.20