Mukilteo Beacon - Your Hometown News Source

Construction bonds for Mukilteo schools sold to investors

 


Construction bonds that will provide the funds to make a number of facility improvements throughout the Mukilteo School District have been sold to investors.

When voters approved a bond measure in February, they granted the school district the permission to borrow money through the municipal bond market and then pay the principal and interest on those bonds using money collected from local property taxes.

Those payments, called debt service, are often paid over a period of 12-20 years, thus spreading the cost of the projects over that period of time and, therefore, reducing the impact on...



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