To acquire, construct and improve school facilities, including a multipurpose building comparable to support facilities in neighboring school districts, with cafeteria and kitchen facilities, girls and boys restrooms, an enclosed area for student sports and assemblies, and space for community sponsored activities and events, and qualify for $2,000,000 in State grants, shall Tipton Elementary School District issue $3,100,000 in bonds, at legal interest rates, with annual audits, a citizens? oversight committee, and no money for teacher salaries?