Passage of Proposition No. 1 will authorize Mercer Island School District No. 400 to borrow $98.8 million by issuing general obligation bonds. In accordance with the unanimous passage of Mercer Island School Board Resolution No. 610, the bonds will pay for three facilities projects addressing overcrowding in Mercer Island schools.
The school district currently has more than 4,300 students in the high school, middle school, three elementary schools and alternative program, which is about 750 students more than facilities design capacity.
Projects would include: (1) building a fourth elementary school on the district-owned North Mercer campus; (2) expanding Islander Middle School, including 14 classrooms and lab spaces, commons and cafeteria, gymnasiums, music rooms and administrative space; and (3) adding 10 classrooms at Mercer Island High School, including four science lab spaces and six general education classrooms.
The bonds would be repaid out of annual property tax levies over a period of 20 years. The estimated increase to repay these bonds is estimated to be $0.25 per thousand dollars of assessed property value, or about $250 per year for a home with an assessed value of $1 million.
For additional questions regarding this measure contact: Dean Mack - CFO/COO 206-236-4522 • Dean.mack@mercerislandschools.org
