School board to sell bonds for construction projects

The Issaquah School Board is getting ready to sell some of its bonds to make money for the construction projects at Issaquah High School and Skyline High School.

  • Wednesday, June 11, 2008 1:38pm
  • News

The Issaquah School Board is getting ready to sell some of its bonds to make money for the construction projects at Issaquah High School and Skyline High School.

The district is going out to bid on the morning of June 11, and although the market isn’t as steady as it once was, officials still say it’s a good time to buy.

“Really the name of the game is volatility,” said Seattle Northwest Security consultant Trevor Carlson. “It’s still a great time to be borrowing long term on behalf of the taxpayers for the district. We’re still near historic lows.”

The district put the money from the sale of the bonds into the Capital Funds account on June 26 for construction costs for the high schools.

The goal is to put the whole $60 million into the account.

To reach that goal, district officials hope to use some premium bonds, which buyers are willing to pay a bit more than the face value of, to cover the cost of selling the $60 million in bonds.

The bond measure was approved by voters two years ago.

Total tax rates for the bond are not to exceed $3.97 per $1,000 assessed value. This number will drop to just less than $2.50 in 1013 and will drop again to slightly more than $1.60 in 2026.

School Board members plan to discuss the offers at their next meeting on June 11.

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