The bill amends RCW 28A.530.080 to expand the authority of school districts in Washington to contract indebtedness for school construction and related purposes. Specifically, it allows school districts to issue bonds, notes, or other forms of indebtedness without a vote from the qualified electors for various purposes, including purchasing real or personal property. To utilize this authority for specific construction projects, districts must first obtain voter approval for a levy to support the project, ensure they have not been under binding conditions in the past three years, and agree to delay state financial assistance for the project for two years.

Additionally, the bill modifies the public notice and hearing requirements for issuing nonvoted bonds exceeding $250,000. It mandates that school districts publish a notice of intent to issue such bonds and hold a public hearing, detailing the purpose, amount, and repayment means. However, these requirements do not apply to the refinancing or refunding of existing bonds. The proceeds from the issued bonds will be allocated to the capital projects fund, transportation vehicle fund, or general fund as appropriate.

Statutes affected:
Original Bill: 28A.530.080
Bill as passed Legislature: 28A.530.080
Session law: 28A.530.080