The Results by Article

Article 1:

Do you favor authorizing the board of directors of Regional School Units No. 21 (the “RSU”) to issue bonds or notes in the name of the RSU for school construction and minor capital projects in an amount not to exceed Seventy-Four Million Eight Hundred Thirty Thousand Seven Hundred Eleven Dollars ($74,830,711) to renovate, equip, and construct additions and/or new school facilities at the following:

1. Mildred L. Day School located on the existing school lot on the Old Limerick Road Arundel;
   
2. Kennebunkport Consolidated School located on the existing school lot on School Street in Kennebunkport; and
3. Kennebunk High School located on the existing school lot on Fletcher Street in Kennebunk?

Article 2:

Do you favor authorizing the board of directors of Regional School Units No. 21 (the “RSU”) to issue bonds and other evidences of indebtedness in the name of the RSU in an amount not to exceed $1,799,421 through the State of Maine’s zero interest rate/loan forgiving Revolving Renovations Fund Program for Priority 1 Health, Safety and Compliance repairs and improvements at Kennebunk High School, Kennebunkport Consolidated School and the Mildred L Day School (“the projects”)?

A. Zero Interest/Loan Forgiveness Program: The Maine Department of Education has approved RSU loans in the amount of $1,799,421 through the State’s zero interest rate/loan forgiveness School Renovation Fund Program for the Project.

B. Loan Forgiveness: The Maine Department of Education has authorized the forgiveness of approximately 30.0% (up to an estimated $539,826) of the total loan amount.

C. Interest Free Loan: The RSU will be obligated to repay approximately 70.0% (up to an estimated $1,259,595) of the total approved loan amount over a ten-year term. The loan program provides for repayment at a zero interest.