BONDS AND LEVIES

OVERVIEW OF BONDS AND CAPITAL PROJECTS LEVIES

Bonds are the primary method used by Washington school districts to finance the "local share" of major capital projects because:

  • Cash is generated upfront.

  • Payments can be spread over time.

  • Districts have some control over taxpayer impacts.

bonds levies

Voter-Approved Unlimited Tax General Obligation (UTGO) Bonds

  • New revenue created

  • Repaid with property taxes

  • Approved with a 60% yes vote, 40% validation

  • 5% debt capacity

  • 40-year maximum term (match useful life of asset)

  • May only be submitted to voters twice in a calendar year

Non-Voted Limited General Obligation (LGO) Bonds

  • Repaid with existing revenue

  • Can't be used for "new" construction

  • 3/8 of 1% debt capacity

  • A public hearing is required if more than $250,000.

Capital Projects Levies

  • One to six-year collection cycle

  • Pay costs to construct, modernize, or remodel school facilities (including technology improvements)

  • Additional capital projects levy may be authorized for the same period (e.g., technology and new roof)

  • No interest cost

  • Possible life cycle mismatch

  • Simple majority (50% + 1)

  • If a capital projects levy fails, it may be resubmitted to voters only once in the same 12-month period.

PROPOSED LEVIES- CURRENT

None

NON-APPROVED BONDS - RECENT

  • November 7, 2023 | Replacement Byron Kibler/JJ Smith combined facility, Safety and Security upgrades district-wide, and Priority maintenance of existing facilities - Non-approved with 35.46% approval

  • February 14, 2023 | Replacement Byron Kibler Elementary with Birth to Five Center, New Ten Trails Elementary, Performing Arts Center, Athletic Complex, and Safety, Security, Educational Building, and District Asset Upgrades - Non-approved with 24.73% approval

NON-APPROVED LEVIES - RECENT

No EP&O levies were non-approved from February 7, 2006, to the last levy on February 8, 2022.

Capital Levies
April 22, 2025 | Critical Maintenance Capital Levy

EP&O Levies
None, see Historical levy Data below.

Transportation Vehicle Levies
None, see Historical levy Data below.

VOTER APPROVED BONDS - RECENT

Previous bonds that we have digital resources for are listed and linked below.

VOTER APPROVED LEVIES - RECENT

Previous levies that we have digital resources for are listed and linked below.

HISTORICAL BONDS AND LEVIES