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Eatonville board hears options to accelerate capital projects by borrowing against levy
Summary
Financial advisor from DA Davidson outlined pros and cons of "front‑funding" projects by borrowing against the district's capital levy, explained borrowing limits and repayment rules, and described state, county and bank financing options; no board action was taken.
At the Eatonville School District board meeting, financial adviser Greg Plager of DA Davidson gave a detailed briefing on financing options that could let the district complete capital projects sooner by borrowing against its voter‑approved capital levy.
Plager said the district could consider borrowing now to start projects before levy collections arrive, but cautioned there are legal and cost trade‑offs that the board must weigh. "Front funding capital levies alleviates cash‑flow concerns, but it can create other challenges," he told trustees.
The presentation laid out three common ways districts accelerate capital projects: joining a pooled bond sale issued by the state treasurer, asking the county treasurer to buy the debt, or arranging a competitive local bank placement. Plager said the state pooled option can produce the lowest interest rates because the state bundles many…
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