On June 27, the Northshore School District issued $175 million in bonds. This is the first sale since the February election when voters approved the bonds, allowing the District to build more classroom capacity to accommodate the rapid population growth in the region. The bond transaction was finalized on July 17.
Proceeds from the bonds will be used for construction of a new elementary school near Maltby, the Skyview Middle/Canyon Creek Elementary expansion, the Inglemoor High School performance hall and instructional building, safety and security upgrades and other facilities improvements at District schools.
District bonds are highly rated in financial markets, so Northshore was able to sell the bonds at a premium, according to Lydia Sellie, Northshore’s executive director of business services.
Sellie estimates that the remaining $100 million in bonds will be issued during the 2019-20 fiscal year.