To build new facilities at Merced College to support education and occupational training in sciences, agriculture, technology, health and business, including classrooms, labs, and lecture halls; construct a library with computer/research facilities; renovate existing buildings, including disabled access; and for other specified projects, shall Merced Community College District issue $53,500,000 in bonds, payable from taxes levied only in the Merced Campus service area, at interest rates within legal limits, and establish a citizens' bond oversight committee?