RSU 63 School Referendum (Holden)
RSU 63 Referendum: Do you favor authorizing the school board of Regional School Unit no. 63 ( RSU 63) to issue bonds and other evidences of indebtedness in the name of the RSU for minor capital projects described below (the project) in an amount not to exceed $2,673,250 through the State of Maine zero interest rate/loan giveness School Revolving Renovation Fund program for Priority One health safety and compliance repairs related to indoor air quality improvements at Eddington School, Holbrook School and the Holden School (the project)? A. Zero interest loan forgiveness program. The State Department of Education has awarded the RSU loans in the amount of $2,673,200 through the state's zero interest rate/loan forgiveness School Revolving Renovation Fund program. B. Loan Forgiveness. The State Department of Education will forgive approximately 48.79% (up to an estimated $1,304,270) of the total approved loan. C Interest Free Loan. The RSU will be obligated to repay approximately 51.21% (an estimated $1,368,972) of the total approved loan amount over a 10-year term. The State of Maine has agreed to lend these funds and to permit repayment at ZERO PERCENT (0%) interest.
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