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<br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />- <br /> <br />- <br /> <br />currently plarmed appropriations. The School System hereby agrees to the School <br /> <br />Improvements. <br /> <br />A. During FY 2005-06, there shall be $500,000 provided for plarming, design, and site <br /> <br />preparation for the School Improvements. <br /> <br />B. During FY 2006-07, there shall be $2,000,000 provided for construction of the School <br /> <br /> <br />Improvements. <br /> <br />C. During FY 2007-08, there shall be $2,500,000 provided for construction of the School <br /> <br /> <br />Improvernents. <br /> <br />10. The School Improvements shall be completed in time for the School to be open for the <br /> <br />9. <br /> <br />2008-09 school year, subject to construction contingencies. Until the School opens in a <br /> <br />renovated condition, the School System will zone the elementary school children of the <br /> <br />Plarmed Community to the newly renovated Hodges Manor Elementary School. <br /> <br />The School System shall keep the School open and serving elementary school children <br /> <br />from the Planned Community for a rninimum of twenty years, beginning with the 2008- <br />2009 school year. <br /> <br />12. The existence ofthe special assessment shall not limit in any way the power or discretion <br /> <br />II. <br /> <br />of the City to change the overall real estate tax rate at any time, in the marmer provided by <br /> <br />law. <br /> <br />13. The commitment to the School and the School Improvements shall not limit in any way <br /> <br />the power or discretion ofthe Portsmouth School Board to make such changes from time <br /> <br />to time as it deems to be in the educational interest of its students and the general public. <br /> <br />WITNESS the following signatures this _ day of <br /> <br />,2005. <br /> <br />Draft 8B <br /> <br />-6- <br />