The Board of Directors of Sedro-Woolley School District adopted Resolution No. 1105 concerning educational funding. This proposition authorizes the District to levy the following excess taxes to replace an expiring levy on all taxable property within the District to support the District's educational programs and operations not funded by the state: Collection Years: 2019 Approximate Levy Rate/$1,000 Assessed Value: $3.90 Levy Amount: $12,046,115 Collection Years: 2020 Approximate Levy Rate/$1,000 Assessed Value: $3.95 Levy Amount: $12,564,097 Collection Years: 2021 Approximate Levy Rate/$1,000 Assessed Value: $4.00 Levy Amount: $13,104,354 Collection Years: 2022 Approximate Levy Rate/$1,000 Assessed Value: $4.05 Levy Amount: $13,667,841 all as provided in the Resolution. Collection Year Approximate Levy Rateper $1000 Assessed Value Levy Amount 2019 $3.90 $12,046,115 2020 $3.95 $12,564,097 2021 $4.00 $13,104,354 2022 $4.05 $13,667,841 Passage of Proposition No. 2 would replace an expiring levy and allow the levy of $12,046,115 in property taxes within Sedro-Woolley School District for collection in 2019, the levy of $12,564,097 for collection in 2020, the levy of $13,104,354 for collection in 2021, and the levy of $13,667,841 for collection in 2022. In accordance with Resolution No. 1105 approving this proposition, these taxes would be deposited in the Sedro-Woolley School District’s General Fund to pay part of the general expenses of operating the District. General expenses of the District include employee costs (such as salaries), instructional materials, special programs, activities and sports, technology systems operation, transportation costs, maintenance of facilities and other non-capital expenses of operating the District schools. If authorized by the voters and based on projected assessed valuation information, estimated levy rates per $1,000 of assessed value would be $3.90 (2019 collection), $3.95 (2020 collection), $4.00 (2021 collection), and $4.05 (2022 collection). The exact levy rate shall be adjusted based upon the actual assessed value of the property within the District at the time of the levy.