What it asksDebt
- Debt
- $26 million
- “debt be increased up to $26 million”
- Repayment, at most
- $57 million
- “with a maximum repayment cost of up to $57 million”
What it's for
“for the purpose of providing financing of street and transportation capital projects”
The ballot question2E
Subject to the approval of a one percent increase in sales and use tax, shall the Town of Frederick debt be increased up to $26 million, with a maximum repayment cost of up to $57 million, for the purpose of providing financing of street and transportation capital projects by the issuance and payment of general obligation bonds, which shall mature, be subject to redemption, with or without premium, and 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 herewith, as the Town Board may determine?
As the ballot prints it
SUBJECT TO THE APPROVAL OF A ONE PERCENT INCREASE IN SALES AND USE TAX, SHALL THE TOWN OF FREDERICK DEBT BE INCREASED UP TO $26 MILLION, WITH A MAXIMUM REPAYMENT COST OF UP TO $57 MILLION, FOR THE PURPOSE OF PROVIDING FINANCING OF STREET AND TRANSPORTATION CAPITAL PROJECTS BY THE ISSUANCE AND PAYMENT OF GENERAL OBLIGATION BONDS, WHICH SHALL MATURE, BE SUBJECT TO REDEMPTION, WITH OR WITHOUT PREMIUM, AND 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 HEREWITH, AS THE TOWN BOARD MAY DETERMINE?
As printed in the document it was read from.