ISSUANCE OF GENERAL OBLIGATION BONDS FOR A FIREHALL

Shall the Town of Carlos, Minnesota, be authorized to issue its general obligation bonds, including any bonds issued to refund such bonds, in an amount not-to-exceed $2,800,000, to provide funds for the acquisition, construction, and betterment of a firehall facility? BY VOTING "YES" ON THIS BALLOT QUESTION, YOU ARE VOTING FOR A PROPERTY TAX INCREASE. [The City of Carlos, Minnesota ("Carlos"), and the Town of Belle River, Minnesota ("Belle River"), are obligated to contribute a pro rata share of the costs of the acquisition, construction, and betterment of a firehall facility (the "Project"), including, without limitation, a pro rata portion of the debt service on any bonds issued therefor, pursuant to the "Cost Sharing Formula" established by the Joint Powers Agreement (the "Agreement"), dated June 13, 2024, by and between the Town of Carlos, Minnesota (the "Town"), Belle River, and Carlos, as the same may be amended from time to time. Such revenues from Carlos and Belle River shall be a source of payment for the bonds, and the Town's property taxes will only increase in an amount sufficient to pay principal and interest on the bonds when due for the Town's portion, pursuant to the "Cost Sharing Formula" in the Agreement.]