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Mercer Island school leaders, financial advisers outline $165 million bond plan and oversight at public Q&A
Summary
District leaders and Piper Sandler advisers detailed a $165 million bond package, its planned phased issuance, uses for school facility upgrades and oversight measures, and answered community questions about tax impact, construction cost risk, and tracking of proceeds.
Mercer Island School District officials and Piper Sandler municipal advisors fielded detailed questions from the school board and the public Tuesday about a proposed $165 million facilities bond the board unanimously approved placing on the April ballot.
The district presented the bond as a single authorization that would be sold in tranches timed to construction cash flow, not issued all at once. “The 25 and 27 will be the issuances of the $165 million authorization,” Ryan Swanson of Piper Sandler said during the Q&A, adding the firm plans sales to match the district’s spending so it “isn’t incurring expense until you need the funds.”
Why it matters: The bond would fund renovations across the Mercer Island School District campus — including HVAC and fire-system work at the high school, accessibility upgrades, arts and STEM spaces, improvements at IMS and several elementary schools, and planning for long‑term campus consolidation. The discussion covered the mechanics of tax rates, premiums on bond…
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