Capital Bond and Levy Overview
Public schools are funded by state and federal dollars, grants and local voter-approved levy dollars. The difference and reasons for a bond and levy can be confusing. The easiest way to explain it is Bonds are for Building and Levies are for Learning.
Although school districts are funded through state, local and federal dollars, the state provides limited funding for major school construction projects. Everett Public Schools relies on local, voter-approved bonds to pay for construction, maintenance and renovations to schools and classrooms.
- Bonds allow school districts to collect money up front for major construction projects, and the debt is paid off over 10-20 years.
- Once approved by voters, bonds are sold to investors to provide funds for school construction and capital facility improvement projects.
- The construction projects are competitively bid out, which provides tax payers the best value. The work results in jobs right here in our community.
Voter-approved levies help pay for instruction programs, student support, technology, athletics and all other areas where state funding falls short.