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1 <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 j <br />14 li <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />annually on the bonds shall be 12 percent per annum or such <br />other rate as may be the maximum interest rate permitted by law. <br />Section 4. Proposition to be Submitted to Voters. The <br />proposition to be submitted to the voters within the Community <br />Facilities District with respect to the proposed bonded <br />indebtedness shall be as follows: <br />Shall a bonded indebtedness in an aggre- <br />gate principal amount not to exceed <br />$3,500,000 be incurred by and for Commu- <br />nity Facilities District No. 87-1 of the <br />City of Colton, County of San Bernardino, <br />State of California, for a maximum term <br />of not more than 40 years and with <br />interest at a rate or rates not to exceed <br />12 percent per annum, or such other rate <br />as may be the maximum interest rate <br />permitted by law, for the purpose of <br />providing public facilities within and <br />for the community facilities district, <br />including the design, acquisition, con- <br />struction, expansion, rehabilitation, and <br />equipping and furnishing, as appropriate, <br />of (i) storm drainage facilities, (ii) a <br />fire station, including equipment and <br />furnishings therefor, and a 1500 gallon <br />per minute pumper truck, (iii) a multi- <br />purpose community building, including <br />equipment and furnishings therefor, and <br />-3- <br />