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| Bond Basics |
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| Funding |
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| Project 1: Madison School |
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| Project 2: Elementary School No. 7 |
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| Project 3: Gymnasium and Field House |
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What's a school bond?
A school bond is a means for financing additions and renovations to school facilities. Voters authorize District officials to offer bonds to investors and pledge repayment through property taxes collected over a specified number of years. Bond monies can only be used for school construction, remodeling or specified improvement projects. Funds cannot be used for salary increases or other District operating expenses.
This differs from a school levy, which is a tax paid by property owners for the maintenance and operation of the District. School levies are typically voted on every two years in Mount Vernon.
More simply put: Bonds are for buildings; levies are for learning.
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What's the purpose of the bond?
The proposed bond will help pay for the following capital building projects:
- Construct a larger, 550-student replacement school on existing Madison Elementary School campus.
- Construct new 550-student elementary school.
- Renovate MVHS gym and field house, including 2,700 sq./feet of new classroom space.
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Who set the bond's priorities?
A Facilities Advisory Committee—composed of interested parents, community leaders, teachers and administrative staff—met between January 2005 and March 2006 to study current facility modernization and expansion needs. Initial meetings focused on a review of the 2001 bond. The review included a detailed report that was generated by an outside school financial consultant.
In an effort to ensure accurate dollar amounts for the three projects, the Committee requested that thorough engineering cost analyses and independent architectural cost estimates be conducted.
After reviewing all of the data, the Committee recommended that a bond issue be presented to the voters based on:
- Need for permanent space for an additional 400+ students by 2011.
- Status of District's current facilities.
- Timing of eligible state funds.
A summary of the Facility Advisory Committee's April 6, 2006, report to the school board is available online at www.MountVernonSchools.org.
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What percent of the vote will the bond measure need to pass?
The school bond follows the 60/40 rule. In order to pass, the measure must receive a supermajority 'Yes' vote of 60 percent. Moreover, at least 40 percent of those who cast a ballot in the last general election must vote to validate the school bond election.
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Can seniors receive a property tax exemption?
Yes. If you are 61 years of age or older, or legally disabled, your household income is less than $35,000, and you own and occupy your property, you could be eligible for an exemption from all or part of the property tax. Contact the Skagit County Assessor's Office at (360) 336-9370 for more information on how to apply. |
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How will the projects be funded?
Mount Vernon citizens are being asked to approve $46.4 million in general obligation bonds maturing within a maximum term of 20 years. Repayment of the bonds will be financed through property taxes levied annually in excess of regular property tax levies.
It is anticipated that the District will receive additional funds from the state of Washington in the estimated amount of $9.9 million to apply to the completion of the projects.
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How will this impact my property taxes?
It is estimated that the $46.4 million bond would raise property taxes by 57 cents per $1,000 of assessed value in 2007.
Per $1,000 of assessed value
New Bond Rate $2.30
Current Bond Rate $1.73
Rate Change $0.57
For a home assessed at $250,000, the expected increase would be $142.50 per year. |
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What’s the plan for Madison School?
The plan for Madison Elementary School calls for construction of a larger, 550-student replacement school on the existing building site.
A cost analysis between modernizing the existing facility or new construction indicated that the existing structure should be demolished and replaced. The original classroom wing at Madison was constructed in 1954, and expanded by four classrooms in 1960. In 1982, the District also built a major addition that provided the new library, gym and 10 classrooms.
The analysis reported that even after remodeling, functional problems would remain and the District would gain no additional student capacity. A major remodel of Madison School would also be more expensive than demolition and starting anew.
The estimated local share is $17,129,209.
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Will Madison students need to be relocated?
Yes. Constructing a new Madison School on the existing building site will require the construction and occupation of Elementary School No. 7 first. This allows the vacation of Madison during its reconstruction.
Several options were considered in an effort to avoid student relocation. One option looked at locating a new school behind the existing building and moving in after it was completed. However, safety concerns and additional expense during the construction phase ruled this option out. |
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Why do we need to build Elementary School No. 7?
In one word—growth. The District has an elementary enrollment capacity of 2,825 full-time equivalent students. January 2007 enrollment is 3,021. Three schools (Centennial, Jefferson and Little Mountain) are close to or beyond their enrollment capacity. Enrollment is anticipated to grow at a rate that will require an additional elementary school within four years.
The District has purchased a suitable 10-acre school site at Division Street and Burlingame Road, near the 800-home Skagit Highlands development in eastern Mount Vernon.
The estimated local share is $20,946,809.
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What cost-saving measures will be utilized to build the elementary schools?
Working closely with an architectural firm, the District has developed a model plan for building new elementary schools. The plan is flexible so that it can be modified as needed for each school's unique site. This will save the District significant dollars in design work.
We will experience additional efficiencies and cost-savings on Madison School and Elementary No. 7 by employing a single architect to oversee both projects. |
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What’s the plan for the High School gym and field house?
To better serve student academic needs, the plan calls for adding three new classroom spaces. The overall facility will be modernized while preserving the traditional look of the current gymnasium.
Over 1,200 students use the MVHS gym and field house complex for physical education classes every day. Throughout the year, community groups also heavily utilize the building for events.
The gymnasium was last renovated in 1983. That same year, the field house was built as an addition. Currently, the gym experiences significant roof leaking and floor damage. In the event of an earthquake, the risk of seismic damage is a major concern.
The estimated local share is $8,235,067.
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Will programs be relocated during construction?
Modernization of the MVHS gym and field house complex will be phased to reduce the impact on occupied spaces. Some programs will be located off-site temporarily.
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