Bond

Royal School Bond 2019

5/23/2019

Lower Tax Rates for Royal

Dear Community Members:

As we wrap up the school year, I am happy to share some exciting news with you regarding our school bond. The $16.58 million bond approved by Royal voters on February 12th this year is going to cost taxpayers even less than expected! The estimated tax rate increase for Royal School District's 2019 bond was originally anticipated to cost $1.25. That rate has now decreased to just 85 cents! (Rates are per $1,000 assessed property value.)

D.A. Davidson & Co. served as Underwriter on Royal School District's Bond and noted that our district was able to take advantage of favorable municipal bond market conditions. In a statement from D.A. Davidson:

The District's growing tax base and well-managed resources were key elements that contributed to the securing of the S&P rating of A+…Due to lower than projected interest rates, the District was able to sell the entire voter authorization, which will reduce interest rate exposure and increase investment earnings.

As you'll recall, the school bond includes three major renovation projects aimed at addressing student and staff safety, growing enrollment, and insufficient infrastructure across Royal schools. Detailed information about the bond projects can be found on our website at royalsd.org/ under the Bonds link. Please do not hesitate to reach out to me with any questions about the bond, and thank you again for your support of Royal's schools!

MEDIA ALERT
For immediate release

February 13, 2019

Contact:
Roger Trail, Superintendent
Royal School District
PH: 509-346-2222
rtrail@royalsd.org

APPROVED

ROYAL CITY, WA - Early results show Royal voters have approved their local $16.58 million school bond in yesterday's special election, with the current Yes vote at 62.96%. Royal School District's 18-year bond will cover three major renovation projects at the high school, middle school, and bus garage. These projects aim at addressing student and staff safety, growing enrollment, and insufficient infrastructure across Royal schools.

Superintendent, Roger Trail was thrilled by the outpouring of community support, including the work done by Citizens to Support Royal Schools. "Katie Allred and Katie Christensen, in their roles as co-chairs of the committee, were vital in leading a successful campaign", Trail said. "The voters just acknowledged the importance of safety in our schools along with their desire to have excellent facilities for our students and staff." Mr. Trail said that he looks forward to the next steps in the process including working with the architect and design teams to fine-tune the plans before construction.

Community members can expect more information on what to expect for their schools and the construction process as the District moves forward with planning. For more information on the Royal School District bond, contact the Superintendent's Office at 509-346-2222 or rtrail@royalsd.org.

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Royal Tax Cut

Bond Projects

Bond

*Updated 11/12/2018

The Royal School Board plans to place a $16.58 million Bond on the February 12, 2019, ballot. What is a bond? School bonds provide immediate funds for large, long-term capital projects, such as modernization of buildings, new school construction or purchasing property. Bond funds are generally collected over a 15 to 30 year period and are comparable to your home mortgage.

If approved by voters, Royal's proposed Bond will include three renovation projects at the Middle School, High School, and Bus Garage.

2019 Bond Quick Facts:

  • Total proposed bond cost = $16.58 million
  • Estimated 2021 Tax Rate = *$1.25 per $1,000 assessed property value (bond only)
  • The bond will include three renovation projects at the Middle School, High School, and Bus Garage. (See project details.)
  • The Red Rock Elementary modernization project is NOT part of the 2019 Bond. Red Rock construction was covered by money received from flood insurance and State Matching Funds.
  • Tax relief is available to quali¬≠fied senior citizens through Grant County Assessor's Office
  • Questions? Contact Superintendent Roger Trail at (509) 346-2222 or rtrail@royalsd.org
  • Ballots should arrive in voter mailboxes the week of January 21, 2019. Vote early!
  • Election day is February 12, 2019
  • If approved, the 2019 bond will be financed for 18 years.

Bond Projects:

If approved by voters, the 2019 Royal Bond will include the following projects:

Foyer Redesign

 

Architectural rendering of the entry configuration © Design West.

High School

  • Safety enhancements:
    • New, secure entry area
    • Indoor and outdoor security cameras
    • Security card system/doors at all buildings
  • Single point of entry reconfiguration:
    • Expand cafeteria and connect to library and main building
    • Connect front of building with gym
    • Additional classroom space
  • Gym renovation:
    • Foyer, restrooms, concessions, and ticket area upgrades
  • New bleachers
  • New gym floor
  • HVAC updates
  • Locker rooms expansion and upgrades

Cafeteria

Middle School

  • reconstruction and modernization
  • Additional classroom space
  • Safety enhancements: School office area reconfiguration
    • School office area reconfiguration, including buzz-in vestibule (like Intermediate School)
    • Indoor and outdoor security cameras
    • Security card system/doors at all buildings

Bus Garage

  • Expand bus bay from 1 to 2
  • Add bus wash area
  • Update office, meeting room, and restroom
  • Additional storage

Projected Tax Rates

Total bond amount requested = $16.58 million

Estimated 2021 tax rate increase = $1.25 per $1,000 assessed property value for 18 years

Estimated Tax Payment Increase

Assessed Property Value

Cost Per Month:

18 yrs, $1.25

$100,000

$10.42

200,000

$20.84

300,000

$31.26


The total bond amount is for $16.58 million. The bond will be financed over 18 years, the estimated tax rate increase is $1.25 per $1,000 of assessed property value.

How Do our Tax Rates Compete