Referred to the People by the District Board

Hubbard Rural Fire Protection District General Obligation Bond Authorization

Question: Shall the District be authorized to contract a general obligation bonded indebtedness in an amount not to exceed $585,000? If the bonds are approved, they will be payable from taxes on property or property ownership that are not subject to the limitations of sections 11 and 11b, Article XI of the Oregon Constitution.

Summary: This measure, if approved, would authorize the District to issue general obligation bonds in a principal amount not more than $585,000. Bond proceeds will be used to pay the costs of capital construction and improvements consisting of expansion, remodeling and renovating the Districts Fire Station, will be used to pay the first installment of interest due on the bonds and will pay all costs incidental to the issuance of the bonds. The bonds will mature over a period not to exceed fifteen (15) years.