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Notus School District Special Bond Election November 4, 2014

Notus School District Special Bond Election November 4, 2014. Bond election to build a new e lementary building on the southeast practice field. Why the November election and why 4.8 million?.

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Notus School District Special Bond Election November 4, 2014

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  1. Notus School District Special Bond ElectionNovember 4, 2014 Bond election to build a new elementary building on the southeast practice field.

  2. Why the November election and why 4.8 million? The Board of Trustees passed a resolution on September 2nd to run a 4.8 million dollar special bond to build a new elementary building. A successful election in November will allow for construction of the new building to be completed for the start of the 2016-2017 school year. A March election would delay construction completion to Winter of 2016-2017 school year. $4.8 million dollars will insure that a new cafeteria and lunchroom can be added to the new building which allows for the construction of the building on the southeast practice field behind the current high school at a lower cost to district patrons.

  3. Bond Update for November 4, 2014 Election September 2, 2014 Notus School District No. 135 Eric Heringer Managing Director 208-344-8561 eric.a.heringer@pjc.com

  4. Important Disclosures The information provided herein is not intended to be and should not be construed as a “recommendation” or “advice” within the meaning of Section 15B of the Securities Exchange Act of 1934. Piper Jaffray is providing this information solely in anticipation of acting as a placement agent or underwriter, is not acting as an advisor or fiduciary to the recipient of this information and does not owe a fiduciary duty to the recipient of this information pursuant to Section 15B of the Exchange Act. As an underwriter or placement agent, the primary role of Piper Jaffray is to purchase securities for resale to investors or arrange for the placement of securities in an arm’s-length commercial  transaction between you and Piper Jaffray. Piper Jaffray is acting for its own interests and has financial and other interests that differ from your interests.  Municipal entities and obligors should discuss any information and material contained in this communication with any and all internal or external advisors and experts that the municipal entity or obligated person deems appropriate before acting on this information or material.

  5. Piper Jaffray has prepared three different bond options for the District to consider for the November 4, 2014 Election: • $4,380,000: same amount as August 2014 election • $4,500,000: increase in debt capacity based on 2014 principal redemption • $4,800,000: increase in debt capacity based on preliminary 2014 market values • Review of what has changed compared to August 2014 election • Market Value increase: Preliminary 2014 numbers indicate 12% growth over 2013 • Increases debt capacity • Larger tax base will reduce the tax rate projection • Interest rates: Lower now compared to May 2014 when planning for August election • Bond Planning Options

  6. Historical Tax-Exempt Rates

  7. Tax Impact Summary Notes: $114,000 home value. Taxable value is $57,000 after subtracting homeowners exemption. Homeowners Exemption is 50% of Full Value up to a maximum of $83,920 in tax year 2014 (FY 2015). Levy Equalization is projected at 35% of principal and interest cost of the bonds.

  8. Election Timeline November 4, 2014 election timeline No later than 9/5: File Election Resolution with County Clerk September 19: Last day for County Clerk to mail absentee ballots to voters who request them October 5: Designation of polling places and absentee voting places October 29: Last day for an application for mail-in absentee ballot October 31: Last day for in-person absentee voting November 4: Election November 14: Last day for Board of County Canvassers to meet and canvass the vote

  9. Sixty One Days Until the November 4th Election • 66.6% yes votes are need to secure the building bond • August Election Results: • 168 In Favor 63 % • 98 Against 37% • *738 Total Registered Voters in the Notus School District • *266 Total Votes 36 % Voter Turnout • *472 Registered Voters did not vote in the August election • *Numbers are based on registered voter list from January 2014 • 100 No votes require 203 yes votes for passage • 61 days to communicate to the public the plans for the Notus Elementary • 61 days to find support for the election • 61 days to answer the questions our patrons have • 61 days to invite friends, family, and community members to tour our building • 61 days to email, knock on doors, speak up at community events • 61 days to talk to your neighbors and friends • 61 days to take action and take an active role in the future of Notus schools and the community of Notus

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