Lisbon School Department Notice To Residents

April, 2009

To the Citizens of Lisbon:

The Lisbon School Department is committed to providing a facility that better meets our students’ educational needs.

In an effort to provide citizens of Lisbon with the most accurate information, the Lisbon School Department has conducted tours and held informational meetings outlining the proposed Bond Anticipation Note (BAN) for up to $500,000 to begin work on a new or renovated Lisbon High School. During these discussions, information was shared in regard to our 2005 NEASC accreditation report and specific impact areas that were identified as problematic. The result of losing our accreditation will have a serious and negative impact on our students.

These areas include:

· Health and Safety

• Building Infrastructure
• Negative Impact on Teaching and Learning
• College Admission

On Tuesday, April 21, 2009 the Town of Lisbon has scheduled a referendum vote to decide if the taxpayers of Lisbon support the proposed project. We are encouraging each of you to ask further questions to ensure that your decision is based on facts related to the proposed project. This informational flyer provides financial information related to the proposed project and the tax impact it will have on the citizens of Lisbon.

What are the financial implications?

The Lisbon School Department has requested approval of a Bond Anticipation Note (BAN) for up to $500,000 to begin work on a new or renovated Lisbon High School. A BAN is similar to a home equity draw down loan where you only use as much as you need for the project.

Once the BAN is passed, a very small portion of the funds will be used to determine whether to renovate or build new. The majority of funds will be used to design and draw the systems and building.

The cost of a new or renovated project is unknown at this time. Analysis and designs must be completed before we will have a budget for the project.

Once the design work and budget are developed, we plan to host an informational meeting and straw poll to gauge public support. With the community indicating support of the project, a referendum would be held for voter consideration of a Bond for the total project. If approved, the Bond would be used to pay off the BAN. Payments would then be made on the full Bond.

It is anticipated that the first Bond interest/principal payments would not be made for 2-3 years. Thus, the tax impact would be included in either the fiscal year 2011 or 2012. There would be no immediate impact to the tax rate.

One example of the anticipated tax impact of the full project is:

Project Budget: $20 Million

Tax Impact: $300/year on $100,000 home or $25.00/month

How can you help?

We would encourage you to attend the tours of the Lisbon High School facility scheduled for Saturday, April 11th and April 18th. These tours will be conducted from 9-11AM. For those people who are unable to attend on these dates, tours are also scheduled for Tuesday, April 21^st throughout the day.

Absentee ballots are now available and can be picked up at the Lisbon Town Office. We encourage anyone who may not be available on April 21st to submit their vote through the absentee ballot process.

We are in an exciting period for our school department and our community. A new or renovated high school for Lisbon offers many opportunities and benefits for our families. Please help us in our continued effort to serve the community by voting on the referendum question through absentee ballot or on Tuesday, April 21, 2009.

Prudence Grant, Chairman,

Lisbon School Committee

Shannon L. Welsh, Ed.D,

Superintendent of Schools