1215 W. Lewis Street
9222 - Bonds Policy
SCHOOL FACILITIES
BondsIf the board determines that there are insufficient moneys in the building fund for a construction project and the district’s limit on bonded indebtedness has not been reached, the board shall authorize an election to seek the approval of voters to issue bonds in the amount needed for the project.
The legal requirements for bond elections and subsequent issuance and redemption of bonds shall be met. The resolution adopted by the board calling for the bond election shall specify the purposes of the bond, including the specific buildings to be constructed to remodeled and any other purposes authorized in RCW 28A.530.010. The board resolution shall also describe the specific purposes the board anticipates for using any state financing assistance, if any. If circumstances alter the purposes for which the board believes it is in the best interest of the district to use the state funds or those raised through the bond, the board shall conduct a public hearing to consider the circumstances and to receive public testimony. At a meeting subsequent to the public hearing, the board may either amend its original resolution or adopt a new one describing the specific purposes to which the state and/or bond funds will be put.
Notice of intent to apply for state school construction funds shall be submitted to the state board of education prior to submitting a bond proposal to district voters.
Legal References: RCW 28A.530 District Bonds for Lands, Buildings
and Equipment
WAC 180-30-620 Notice of intent by school district to
submit application for state
assistance and school housing
study prerequisites to filing
application
Adoption Date: October 14, 1997