Bill > HB1796

This bill amends existing law to grant school districts in Washington more flexibility in contracting indebtedness, which is borrowing money, for school construction purposes. Specifically, it allows school districts to borrow money for purposes outlined in RCW 28A.530.010, which generally relate to school facilities, and for purchasing property related to their powers and duties, without requiring a vote of the electors, provided they adhere to certain debt limitations. However, to use this authority for specific construction, modernization, or remodeling projects (as defined in RCW 28A.530.010(3)), a school district must first have voter approval for a levy to repay the debt, must not have been subject to certain binding conditions in the preceding three years, and must agree to a two-year delay in receiving state financial assistance for the project. The bill also updates the threshold for requiring a public notice and hearing before issuing nonvoted bonds to $250,000, and clarifies that these notice and hearing requirements do not apply to refinancing or refunding existing bonds.