Proposition 6 - 2002

School Major Maintenance	$46.570 million
Taxes per $100,000 of assessed valuation:	$23.61

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Shall Anchorage borrow up to $46,570,000 through the issuance of general obligation bonds?

The general obligation bond proceeds will be used to pay costs of planning, designing, acquiring property for, site preparation, constructing, acquiring, renovating, installing and equipping educational capital improvement projects within Anchorage. The proposed educational capital improvement projects include, but are not limited to, the following:

Projects		Estimated Project Costs	Estimated Increase in Annual Operations & Maintenance Costs
Major Maintenance:
	Asbestos/ADA/Code Issues (districtwide)	$1,615,000	0
	Minor Building Renewal Projects (31 schools and 48 schools/facilities fencing)	7,260,000	0
	Electrical Projects (40 schools)	3,285,000	0
	Maintenance Equipment (districtwide)	1,650,000	0
	Mechanical Upgrades (27 schools)	15,795,000	0
	Roof Replacement and Repairs (7 schools)	1,860,000	0
	Traffic Safety Upgrades (4 schools)	675,000	0
Code Related Projects:
	Code Renovations (including King Career Center)	7,300,000	0
	Districtwide Sprinkler Upgrades	2,000,000	0
Other Major Maintenance Projects
	Public Sewer Service for Birchwood Elementary School & Chugiak High School	$2,200,000	0
	Girdwood Playground Remediation	$1,850,000	0
	Public Water Connection for Girdwood School	250,000	0
Student Transportation
	10 Replacement School Buses	$830,000	0
TOTAL		$46,570,000	$0

Voter approval of this bond proposition authorizes for each $100,000 of assessed real and personal property value (based on the estimated 2002 assessed valuation) an annual increase in taxes of approximately $23.61 to retire the proposed debt.

The debt will be paid from real and personal property taxes levied and collected areawide in Anchorage. Anchorage will also pledge its full faith and credit for payment of the debt.

Anchorage is currently seeking State reimbursement for payment of 70% of the principal and interest on approximately $4,312,523 of these bonds.