Shall the Town vote to 1.) authorize the issuance of general obligation bonds and/or notes inanticipation thereof in the aggregate principal amount of up to $19,500,000 to finance the costs of rehabilitating the Windham Middle School for use as a community center, including the costs of design, engineering, professional services, site preparation, construction, renovation, operating costs, and other improvements and furnishings as may be required in connection with the project, with the dates, maturities, denominations, interest rate(s), payments, premiums, calls for redemption, with or without premium, form, and other details of such borrowing to be determined by the Town Council; 2.) appropriate the proceeds of said bonds or bond anticipation notes for the foregoing project, plus an amount necessary to refund the interest payments on any bond anticipation notes issued for said purpose and any costs of issuance of the bonds and/or bond anticipation notes; 3.) authorize the Town Council to approve the execution of one or more agreements as may be necessary in connection with the foregoing project and borrowing for said project on terms and conditions as the Town Council deems reasonable and necessary; and 4.) appropriate up to $2,000,000 of the Town’s fund balance as the Town Council deems reasonable and necessary to reduce the borrowing amount and directly pay for costs of the project, operating costs of the project, and/or pay for debt service in connection with the project, subject to all applicable regulations related to the use of said funds and the proceeds of the bonds and/or notes issued. Fiscal Note: Question represents a total mil rate increase of 37 cents. This impact will be spread over 5 years by utilizing $2,000,000 in fund balance to limit the average annual mil rate impact to roughly 7.4 cents. This is equivalent to an annual tax increase of roughly $33.30 on a $450,000 household, which will continue for five consecutive years. There will be no further tax increase after the fifth year.The Town Council recommends a YES vote.Financial Statement Relating to Question 3:1. Total Town Indebtedness:a. Bonds outstanding and unpaid: $ 24,912,400.b. Bonds authorized and unissued: $ 11,937,414.c. North Windham Sewer RSU 14 extension (ConveyanceProject) bonds authorized and unissued: $ 15,200,000.d. Bonds to be issued if these questions are approved: $ 19,500,000.Total: $ 71,349,814.2. Estimated Costs:At an estimated maximum interest rate of 3.5% and with an estimated maximum term of twenty (20) years, the estimated cost of this bond issue will be:Total Bond Principal: $ 19,500,000.Total Estimated Interest: $ 7,171,392.Total Estimated Debt Service: $ 26,671,392.Estimated Annual Payments: Ranges from $992,016 to $1,640,391.3. Validity: The validity of the bonds and of the voters’ ratification of the bonds may not beaffected by any errors in the above estimates. If the actual amount of the total debtservice for the bond issue varies from the estimate, the ratification by the electors isnevertheless conclusive and the validity of the bond issue is not affected by reason of thevariance.