MOSES LAKE - Moses Lake will welcome three new schools soon now that $50 million in construction bonds have been sold.
Moses Lake school officials say the district has locked in the bonds at historically low rates. The money generated from the bonds will be spent on constructing two new elementary schools, remodeling of the existing high school and constructing another high school that can accommodate at least 700 students that can be added on to in the future.
The investments are expected to allow the school district to accommodate student enrollment growth for the next 20 years.
The impact on local tax assessments will be seen in the 2019 tax year.
“This significant step in our construction work creates pivotal movement to building new schools for our students. Despite the current trends on the trade market our bond pricing was competitive and on target with our projected rates. This $50 million sale provides the first portion of our fund for these school projects,” said Moses Lake School District Superintendent Josh Meek.
The district says it has also taken the step of rebidding its design and construction work to ensure that the district is getting the best buildings possible at the most competitive price.
The two new elementary schools are estimated to open in the fall of 2021, and the second smaller high school, and an improved Moses Lake High School, to be ready in the fall of 2022. The total project cost is estimated at about $158.5 million, which includes about $23.5 million in state construction assistance.
The sale comes after months of disagreements and sometimes tense debate after the Moses Lake school board decided to alter plans on the voter-approved 2017 construction bond.
The district initially planned to build a 1,600-student high school which would have cost the district roughly $133 million.