"In November 2005, the Board passed Resolution No. 1969 authorizing a special election on
February 7, 2006 in order to propose the issuance of general obligation bonds in the amount
of $436 million. The bonds were to be used for Phase II of the district’s modernization
program which modernized 11 schools and built one new school (Carson Elementary). The
bond election passed, and the district proceeded to sell $425 million of the bonds over the
next six years to complete the projects.
The projects were completed on time and under budget.
In October 2014, the Board passed Resolution No. 2196 authorizing the remaining bond proceeds and State Construction Assistance Program (SCAP) funds to be redirected to additional projects to serve the district’s growing enrollment. These short-term capacity projects included portables, upgrades to classrooms, an addition, future bond planning, internal building modifications, and property acquisition. After completion of these projects, there is approximately $24 million of SCAP funds remaining.
In October 2018, the Board passed Resolution No. 2257 authorizing the sale of the remaining $11 million of the bonds approved by voters in February 2006. Of this combined $31 million, $7 million will be used for portables. The remaining $24 million, plus the $120 million voter approved April 2019 Capital Projects levy, will be used for the district’s critical capacity projects
These projects include an addition to Lake Washington High School; auxiliary gym and commons expansions; classroom additions to Carson, Franklin, Rose Hill, and Twain elementary schools; and district-wide upgrades to building safety and security measures.
In order to redirect the unspent bond funds and unallocated state matching funds on additional projects, it is necessary for the board to hold a public hearing and adopt a resolution modifying the original bond resolution. A public hearing has been scheduled for May 6. Action on the adopting the resolution will be placed on the May 20 agenda.
RECOMMENDATION The Board of Directors holds a public hearing regarding redirecting of bond proceeds and matching funds as outlined in Resolution No. 2270."
-- LWSD website
School Board meeting packet, 5/6/2019
Bob Yoder, 5/6/2019
In October 2014, the Board passed Resolution No. 2196 authorizing the remaining bond proceeds and State Construction Assistance Program (SCAP) funds to be redirected to additional projects to serve the district’s growing enrollment. These short-term capacity projects included portables, upgrades to classrooms, an addition, future bond planning, internal building modifications, and property acquisition. After completion of these projects, there is approximately $24 million of SCAP funds remaining.
In October 2018, the Board passed Resolution No. 2257 authorizing the sale of the remaining $11 million of the bonds approved by voters in February 2006. Of this combined $31 million, $7 million will be used for portables. The remaining $24 million, plus the $120 million voter approved April 2019 Capital Projects levy, will be used for the district’s critical capacity projects
These projects include an addition to Lake Washington High School; auxiliary gym and commons expansions; classroom additions to Carson, Franklin, Rose Hill, and Twain elementary schools; and district-wide upgrades to building safety and security measures.
In order to redirect the unspent bond funds and unallocated state matching funds on additional projects, it is necessary for the board to hold a public hearing and adopt a resolution modifying the original bond resolution. A public hearing has been scheduled for May 6. Action on the adopting the resolution will be placed on the May 20 agenda.
RECOMMENDATION The Board of Directors holds a public hearing regarding redirecting of bond proceeds and matching funds as outlined in Resolution No. 2270."
-- LWSD website
School Board meeting packet, 5/6/2019
Bob Yoder, 5/6/2019