To construct a new high school, including classrooms, labs, support facilities, utilities, and site improvements, and the acquisition of land, and to qualify for State funds which would pay for a portion of the cost of the high school, shall the Minarets Joint Union High School District incur bonded indebtedness in an amount not exceeding $11,920,000 at interest rates not exceeding the legal limit, to acquire, improve, and construct high school facilities and grounds?