To provide funding to repair and modernize aging facilities and infrastructure at all school sites, including inadequate electrical and plumbing systems; to upgrade classrooms, restrooms, and lunch facilities; to replace the deteriorating roof of the middle school; and to comply with state and federal standards to meet the needs of children with disabilities, shall the Arcata Elementary School District incur bonded indebtedness in the amount of $5,400,000 at an interest rate within the legal limit to be used for the above purposes?