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Board studies post‑bond options: nonvoted debt, phased projects and a community survey
Summary
After a failed bond, Mercer Island School District staff reviewed long‑range facility planning, financing alternatives including nonvoted limited general obligation bonds, timing options for levies and a planned outside survey to analyze why voters rejected the bond.
Mercer Island School District administrators used a special study session to brief the board on options after the district's bond measure failed in February, reviewing the long‑range facility plan, nonvoted debt mechanics, possible phasing of projects and plans to commission an independent community survey.
Finance and facilities staff presented legal and financing background prepared with bond counsel at Foster Garvey and outside advisors. Matt, the district finance staffer, summarized legal capacity for nonvoted limited general obligation borrowing and how that tool differs from a voter‑approved bond: the district's estimated statutory nonvoted capacity was cited at roughly $79,000,000 but that borrowing would have to be repaid from the district's general fund rather than from a dedicated tax rate. "We would have to pay for this via the general fund, period," Matt said, noting the key constraint.
Board Director Deborah pushed back on the nonvoted option. "This is not a responsible viable option,"…
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