Bond Question 1: Senior Citizen Facility Improvement, Construction and Equipment

The question on the ballot

The 2026 Capital Projects General Obligation Bond Act authorizes the issuance and sale of senior citizen facility improvement, construction and equipment acquisition bonds. Shall the state be authorized to issue general obligation bonds in an amount not to exceed twenty-one million five hundred eighty-two thousand two hundred thirteen dollars ($21,582,213) to make capital expenditures for certain senior citizen facility improvement, construction and equipment acquisition projects and provide for a general property tax imposition and levy for the payment of principal of, interest on and expenses incurred in connection with the issuance of the bonds and the collection of the tax as permitted by law?[2][1]

Asks voters to authorize the state to issue general obligation bonds not to exceed $21,582,213 for senior citizen facility improvement, construction and equipment acquisition projects. Repayment of principal and interest is by a statewide property tax levy. The guide says the State Board of Finance will set the final rate and estimated cost after the election, with bonds generally issued with maturities up to eleven years, and that the amount of property tax collected depends on existing and new debt service, assessed valuation, interest rates and timing.[1]