At its April 26 meeting, the Medical Lake School Board approved a resolution to allow the school district to refinance $13.7 million of its general obligation bonds from 2010.
The $13.7 million is what’s left from a $15.65 million school bond proposal voters approved in 2010 that funded construction of Hallett Elementary School and additions to the middle school.
According to Business Manager Chad Moss, the 2010 bond resolution included a call feature that allows the district to call back the bond for redemption prior to its maturity date of 2020. The bond currently has a 5 percent interest ra...
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