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FIFE SCHOOL DISTRICT NO. 417 Proposition No. 2

The Board of Directors of Fife School District No. 417 adopted Resolution No. 17-20 concerning a proposition for general obligation bonds. If approved, Proposition No. 2 will authorize the District to construct and equip new buildings for Elementary and Middle Schools, construct and equip a new CTE/STEAM Center of Excellence at the High School, relocate the ESC, acquire land, and make District-wide improvements for safety and security; to issue $176,300,000 of general obligation bonds maturing within 21 years; and to levy annual excess property taxes to repay the bonds, all as provided in Resolution No. 17-20.Explanatory StatementPassage of Proposition No. 2 would allow Fife School District No. 417 to borrow $176,300,000 by issuing general obligation bonds. In accordance with Resolution No. 17-20 approving this proposition, the bonds will pay for planning, developing, constructing and equipping a new elementary school building, a new middle school building, a new high school CTE/STEAM Center of Excellence building, planning, developing and constructing to relocate the District Educational Service Center, District wide safety and security upgrades and improvements to all schools, acquisition land for new buildings and future expansion, planning, developing and implementing other needed building improvements, including, but not limited to classroom modifications, to enable District facilities to meet instructional program needs, including the cost of all necessary architectural, engineering, and other consulting services, inspection and testing, administrative and relocation expenses, on and off-site utilities, site acquisition, related improvements and other costs incurred in connection with the making of the foregoing Improvements to include all necessary furniture, and equipment and appurtenances. The bonds would be repaid out of annual property tax levies over a period of up to 21 years.
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