To build new schools to relieve overcrowding, expand and renovate the high school, improve classroom safety, build additional classrooms, upgrade or replace outdated bathrooms, plumbing, and electrical systems, improve libraries and computer centers, renovate, acquire, construct and modernize school facilities, and permit the elimination of the 1991 Mello-Roos tax, shall the Calexico Unified School District issue $30,000,000 in bonds at authorized interest rates, and appoint a citizens' oversight committee to monitor the expenditure of funds.