Puyallup School District Issues Bonds at Low Rates
Puyallup School District Issues Bonds at Low Rates
Posted on 03/28/2017
School Board President Dane Looker

With interest rates holding a downward trend for the past week, the district held the day's largest municipal bond sale in the nation on March 28, 2017 selling $181,225,000 of tax-exempt bonds with an interest rate of 3.35 percent.

Superintendent Tim Yeomans stated, “This sale of bonds keeps us in a really good long-term position. It takes the financing risk off of our capital projects plan and results in projected tax rates that are significantly below what voters were told to expect. We are in a different place than we were five years ago.”

“The Puyallup School Board of Directors are very pleased with the stewardship of the district including the financial team. We have been planning the bond sale for over a year, and it came in with even lower interest rates than the estimate,” said School Board President Dane Looker.

The district leadership is keeping promises made to taxpayers—
this means lower taxes to homeowners.”
            - Dane Looker
                  Puyallup School Board President

The Puyallup School Board voted unanimously to sell the general obligation bonds for capital projects funding at the February 7, 2017 meeting. This is the final bond sale to fund construction on the projects identified in the bond package approved by voters in November 2015, including constructing and equipping a new elementary school on 144th St. E. on South Hill; expanded replacements of Firgrove Elementary school, Northwood Elementary school, and Sunrise Elementary school;  and remodeling and constructing an addition to Pope Elementary school and Hunt Elementary school.