Highline Public Schools has sold more than half of the bonds approved by voters in November 2022 for building and upgrading schools, the district announced on Friday, June 30, 2023.
By completing the sale when bond market conditions were favorable, the interest rate on the bonds is substantially below the rate used for planning the bond measure, the district said. This will save taxpayers approximately $26.5 million compared to the cost estimated prior to the election.
“We are very pleased to secure low borrowing costs for a majority of the bonds,” said Highline Superintendent Ivan Duran. “This first bond sale will allow us to complete projects as quickly as possible and open new, modern learning facilities to benefit our Highline students, staff and community.”
Projects in the Works
- Highline Public Schools has already started construction on a new Evergreen High School, which is scheduled to open in Fall 2025.
- The selection of a general contractor/construction manager for the new Tyee High School project in SeaTac is expected to be finalized in July. The new Tyee is scheduled to open in Fall 2025.
- The third major project, a new Pacific Middle School in Des Moines, is expected to open in Fall 2027. Additional smaller capital projects and updates are included in the bond package.
As part of the sale, Highline received a strong credit rating of “Aa3” from Moody’s Investors Service. Moody’s noted Highline’s voter-approved operating and capital levies as credit strengths.
More information about Highline’s school construction projects is available at highlineschools.org/keepingourpromise.
