There are two votes required from both Adams and Cheshire to approve the project. The first vote is a warrant article to approve the building project that is voted on by the town meeting of each town. The second vote is an exclusion vote.
Proposition 2-1/2 allows a community to raise funds for certain purposes above the amount of its levy limit or levy ceiling. A community can assess taxes in excess of its levy limit or levy ceiling for the payment of certain capital projects and for the payment of specified debt service costs. An exclusion for the purpose of raising funds for debt service costs is referred to as a debt exclusion, and an exclusion for the purpose of raising funds for capital project costs is referred to as a capital outlay expenditure exclusion.
The additional amount for the payment of debt service is added to the levy limit or levy ceiling for the life of the debt only. The additional amount for the payment of the capital project cost is added to the levy limit or levy ceiling only for the year in which the project is being undertaken. Unlike overrides, exclusions do not become part of the base upon which the levy limit is calculated for future years.
Reimbursements such as state reimbursements for school building construction are subtracted from the amount of the exclusion. Voter approval is required for the exclusion. (From state website: http://www.mass.gov – Department of Revenue)