Edmonds School District sells $200 million in construction bonds; refinances 2014 bonds to save money

College Place Middle School will be replaced under the bond measure approved by voters. (Photo courtesy Edmonds School District)

The Edmonds School District said Thursday it has sold $200 million in bonds authorized from the voter-approved 2024 School Construction Bond in order to begin construction on several projects. At the same time, the district said it took advantage of low bond interest rates to refinance 2014 bonds. The refinancing will save taxpayers $12.3 million over the next decade.

“These financial moves are opportunities for us to demonstrate our commitment to both fiscal responsibility and the future of our schools for our students,” said Superintendent Rebecca Miner. “By securing funding for these vital voter-approved construction projects we are investing directly in learning environments for our students. At the same time, refinancing our existing bonds demonstrates our dedication to being good stewards of our taxpayer dollars.”

Voters approved the 2024 School Construction Bond on Feb. 13, with a 65% approval. The bond addresses several critical needs. It will replace College Place Middle School, College Place Elementary and Westgate Elementary. Additionally, funds from the bond allow the district to accelerate the construction replacing Oak Heights Elementary with groundbreaking now taking place this summer. The bond also funds the construction of a fifth middle school, enabling the district to switch to a sixth-through-eighth grade middle school model starting in the 2028-29 school year.

Learn more about the 2024 School Construction Bond on the district’s website.

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