§ 19522 Bond Election Resolution Requirements

• •The school board decides how much money they want to borrow by selling bonds.
• •They also decide how much interest they will pay back and how long they have to pay it back.
• •This information must be written down clearly before they ask people to vote on it.

Your local school wants to build a new playground but doesn't have enough money.

The school board decides to borrow $100,000 by selling bonds. They say they will pay 3% interest every year and will take 10 years to pay it all back. They write this down and ask the town to vote on it.