February 2019 Bond Facts – What You Need to Know

Bond graphic

Our bond measure to modernize Ferndale schools will be back on the February 12, 2019 Special Election ballot. This is the bond to build a new high school, make critical facility repairs and upgrades, improve school security, and modernize our Performing Arts Center.

The bond secured 58.64% last November (2018), which was less than the 60% super majority required to pass. Community members from the Bond Task Force asked the school board to run it again, and they agreed.

The total amount the new bond would raise over the next 20 years is the same. However, the new bond rate for 2019 is lower because assessed valuations have increased in the school district. In other words, the new bond rate for taxpayers is less because it is shared over properties with a higher value and new construction.

If approved by voters, funding from the new bond would start being collected in 2020. At the end of 2022, an old bond for school facilities will retire. The new bond would be adjusted to maintain the same rate (1.66/$1,000) to provide predictability for our taxpayers.

Here’s a table that shows the estimated costs:

Year

Current Bond Rate /$1,000 (Retires in 2023)

New Proposed Bond Rate/$1,000

Total Bond Rate/$1,000

Cost Per $100,000 of Assessed Value

2019

0.74

0.00

0.74

$ 74

2020

0.74

0.92

1.66

$166

2021

0.76

0.90

1.66

$166

2022

0.77

0.89

1.66

$166

2023

0.00

1.66

1.66

$166

More information is on our web site at www.weareferndale.org. Assistant Superintendent Mark Deebach also is available to answer questions at (360) 383-9203 or mark.deebach@ferndalesd.org.

Voter Registration Information

Speaking of elections, you have until January 14, 2019 to register to vote in the February election and others. To register to vote, visit www.myvote.wa.gov