For certain school facility projects, districts may borrow without a vote on the borrowing if voters approve a repayment levy and the district meets other conditions.
School districts may borrow for listed purposes without a vote on the borrowing. For certain school facility projects, voters must approve a levy that fully repays the debt, and the district must meet other financial conditions.
For nonvoted bonds over $250,000, districts must announce the plan and hold a public hearing where people may comment. This rule does not apply when districts refinance or repay outstanding bonds.
A school district may borrow for listed purposes without a vote on the borrowing. This covers school districts borrowing for purposes listed in RCW 28A.530.010, including certain school facility projects. For projects under RCW 28A.530.010(3), voters must approve a levy that will fully repay the debt. The district must not have been under binding financial conditions in the prior three years and must agree to delay state aid for the project. For qualifying projects, the district must delay state aid for two years.
Before issuing more than $250,000 in nonvoted bonds, a school district must publish notice and hold a public hearing. This applies to school districts issuing nonvoted bonds over $250,000. The notice must give the hearing details, the bonds’ purpose, amount, terms, and repayment method, and say that people may speak. The district must publish notice once a week for two weeks; the last notice must appear no later than seven days before the hearing. These notice and hearing rules do not apply when the district refinances or refunds outstanding bonds. The final notice must be published no later than seven days before the hearing.
No hearings or votes scheduled.