Proposition C: THIS IS A TAX INCREASE

Shall the Board of Directors of Bolton Road Municipal Utility District of Guadalupe County be authorized to issue bonds of said District in one or more issues or series in the maximum amount of $209,555,000 maturing serially or otherwise in such installments as are fixed by said Board over a period or periods not exceeding the maximum number of years authorized by law from their date or dates, bearing interest at any rate or rates, and to sell said bonds at any price or prices, provided that the net effective interest rate, as defined by Chapter 1204, Texas Government Code, as amended, on any issue or series of said bonds shall not exceed the maximum legal limit in effect at the time of issuance of each such issue or series, all as may be determined by the Board of Directors of said District, for the purpose or purposes of purchasing, constructing, acquiring, owning, operating, or maintaining paved roads and turnpikes for said district and additions, extensions, and improvements thereto and purchasing or otherwise acquiring any and all property, contract rights, rights of use, and interests in property necessary, appropriate, or incident to the purchase, construction, acquisition, ownership, operation, or maintenance of such paved roads and turnpikes and additions, extensions, and improvements thereto, and for the additional purpose of paying all expenses in any manner incidental thereto which under applicable law may properly be paid from the proceeds of such bonds and in an amount not in excess of $314,332,500 for the purpose of refunding any bonds or other evidences of indebtedness issued by the District for any of the foregoing purposes and to provide for the payment of principal of and interest on such bonds by the levy and collection of a sufficient tax upon all taxable property within said District, all as authorized by the Constitution and laws of the State of Texas, including particularly (but not by way of limitation) Article III, Section 52(b)(3) of the Texas Constitution, and Chapters 49 and 54 of the Texas Water Code, to the extent applicable, together with all amendments and additions thereto?