If the Bond issue is approved by the voters of the School District, the Board receives an award or commitment of School Building Authority of West Virginia funds and/or other federal, state, local, lease purchase, and/or private funds sufficient, in the Board’s reasonable discretion, to complete the Projects, and the Bonds proposed hereby are issued, then, in connection with the Projects proposed in this Order, upon the completion of the new Elementary School in the vicinity of the East Fairmont attendance area, the existing East Park Elementary School (serving students in grades K through 4) and existing Pleasant Valley Elementary School (serving students in grades K through 4) will each be closed as an elementary school, and certain of those students in grades K through 4 will be assigned to and will attend the new Elementary School in the vicinity of the East Fairmont attendance area.

The issuance of the Bonds (i) is subject to (a) the School Building Authority of West Virginia’s award or commitment of funds to the Board in amounts sufficient, in the Board’s reasonable discretion, to undertake and complete the Projects, and/or (b) the availability of other funds to the Board (including federal, state, local, lease purchase proceeds and/or private funds from any source or any combination thereof), in amounts sufficient, in the Board’s reasonable discretion, to undertake and complete the Projects, and (ii) is further subject to any and all other necessary actions, approvals and consents required by applicable law.

The foregoing estimated Project Cost amounts include the costs of acquiring any necessary lands, sites and rights-of-way and easements, if necessary to complete the Projects, the payment of interest on the Bonds while the Projects are under construction and up to six months thereafter, and any engineering and architectural costs, construction costs, including, but not limited to, construction manager fees and expenses, the cost of using county maintenance personnel, the costs of erecting, improving, equipping and furnishing the Projects, the costs and estimated costs of the issuance of the Bonds, and such other costs, fees, and expenses as may be necessary and/or properly incurred in carrying out the Projects. All Handicapped and E.S.S.I.A. Title 1 expenditures are subject to written approval by the West Virginia Department of Education.

The estimated Project Costs set forth above are based upon the estimates provided to the Board by its architects, engineers and other professional advisers, and the actual costs of completing any one or more of the Projects may vary due to circumstances beyond the reasonable control of the Board. To the extent the actual cost to complete any one or more of the Projects is greater or less than such estimates, the Board, in its reasonable discretion, can allocate and expend the available funds (including proceeds of the Bonds, School Building Authority of West Virginia grant funds and other funds available to the Board) between the Projects as necessary to carry out the intent of this Order; provided however, that in any event, the Board shall use its best efforts to complete each of the Projects described above, to the extent sufficient funding is available.

If the proceeds of the Bonds and/or amounts allocated for the above-stated purposes are insufficient to complete the Projects, then the Board, in its discretion, shall allocate such shortfall to one or more of the above-stated purposes. In the event the Board shall obtain additional money by grant or otherwise from the State or Federal government, or from any agency of either, or from any other source (including private funds, local funds, lease purchase proceeds, or other funds made available to the Board), for use in the acquisition, construction, renovation, improvement, furnishing, and/or equipping of the Projects, such additional money may be used either in substitution for or in addition to the proceeds of the sale of the Bonds proposed hereby, as may be determined by the Board and the granting body or agency.

If the voters of the School District approve the incurring of said debt and the issuance of said Bonds, the Board will lay annually upon the assessed valuation of all the taxable property within the School District an additional levy sufficient to provide funds for the payment of the annual interest upon the Bonds as such interest accrues semiannually and the principal of the Bonds at maturity, for which purposes a levy upon each $100 valuation, based upon the last assessment of such property for State and County purposes, will be required as follows:

Upon Class I Property approximately 5.72 cents
Upon Class II Property approximately 11.44 cents
Upon Class III Property approximately 22.88 cents
Upon Class IV Property approximately 22.88 cents

Marion County Schools

2024 Facilities Bond

Projects

New Elementary School - East Fairmont

Improvements to East Fairmont High School

Improvements to Fairmont Senior High School

Improvements to North Marion High School

Improvements to Watson Elementary School

Improvements to Barrackville Elementary/Middle School

Estimated Costs Summary

Supporting Bond Information