BOND information meeting

Description

SKSD School Board Approves Bond Resolution for Construction of Second High School - come hear the complete details of this bond!
A bond is a means of financing major school construction projects in Washington State, much like a home mortgage.  Citizens authorize district officials to offer bonds to investors and pledge repayment through property taxes collected over a specified number of years. Bond monies, by law, can only be used for school building construction, remodeling, or specified capital improvement projects; they cannot be used for teacher salaries or other operating expenses.  Bonds represent long-term financing over 20 years.  Currently South Kitsap does not have any bond debt.  Approval of bonds requires a super-majority of yes votes (60%).

IMPORTANT : Taxpayers vote for the AMOUNT of a bond issue or levy, NOT the tax rate.  The tax rate is always determined by total assessed property values.  As a community grows adding more houses and businesses, the tax rate DECLINES but the amount (approved by the voters) that the school district receives does NOT change.