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District reviews schedule to sell $314 million 2025 bonds; Delegation Resolution No. 9‑25 set for April 30 first adoption vote
Summary
Assistant Superintendent Teresa Main and DA Davidson representatives reviewed a preliminary four‑sale schedule to sell the $314 million bond approved Feb. 11, 2025. Lee Marchisio presented the first reading of Delegation Resolution No. 9‑25, which would delegate authority to accept final bond terms; adoption is slated for April 30.
At the March 26 meeting, Assistant Superintendent of Business and Operations Teresa Main introduced DA Davidson representatives David Trageser and Cory Plager, who outlined a preliminary schedule to sell the $314 million in bonds voters approved on Feb. 11, 2025.
The presenters described a plan to sell the bond authorization in four separate sales and said the schedule coordinates multiple parties to keep projects on track. The bond package is intended to fund construction of Elementary School No. 8, repair/replace/expand Glenwood and Skyline elementary schools and Lake Stevens Middle School, construct a new Secondary Innovative Learning Center, and fund district‑wide safety, health, security, educational, athletic and infrastructure improvements.
Lee Marchisio (Foster Garvey, P.C.) presented the first reading of Delegation Resolution No. 9‑25, which would authorize issuance, sale and delivery of the district’s unlimited tax general obligation bonds and delegate limited authority to accept final pricing, maturity and interest terms to the Board Secretary and the Assistant Superintendent of Business and Operations, acting singly within parameters in Exhibit A. Adoption of the Delegation Resolution is scheduled for the April 30 board meeting.
Robb Stanton, Executive Director of School Planning and Construction, also reviewed the 2025 Building Condition Assessments and explained how the district’s Asset Preservation Program (APP) governs annual staff inspections and six‑year certified assessments; he highlighted that APP‑eligible facilities will receive repairs and that bond funds are planned for modernization of Skyline, Glenwood and Lake Stevens Middle School as well as development of the Secondary Innovative Learning Center for the Transitions program.
No final bond sale or pricing decisions were made at this meeting; the Delegation Resolution would permit staff to accept final terms at a later date if the board adopts the resolution on April 30.
