The URL can be used to link to this page

Home My WebLink About2025 - Meridian School District No. 505 General Obligation Bonds $70,900,000 Special Election April 22, 2025Whatcom County Auditor's Office Whatcom County Courthouse 311 Grand Avenue, Suite 103 Bellingham, WA 98225-4038 May 6, 2025 Election Results Receipt Stacy Henthorn County Auditor Amy Grasher Chief Deputy Auditor Copies of the following proposition election results from the April 22, 2025 Special Election, have been delivered to the Assessor's and Treasurer's Office: Meridian School District 505, Proposition 2025-01, General Obligation Bonds - $70,900,000 Receipt Acknowledged: Assessor's Office: Rebecca Xczar Treasurer's Office: VIM; ON Oliver Date Tip Z� Date Summary Report Page: 1 of 1 Whatcom County, Washington, April Special, Apr 22, 2025 2025-05-01 All Precincts, All Districts, All Counter Groups, All ScanStations, All Contests, All Boxes 16:31:59 Total Ballots Cast: 3185, Registered Voters: 8223, Overall Turnout: 38.73% Choice Votes Vote % All Precincts MSD 505 Prop 2025-01 Gen Obligation Bonds - $70,900,000 (Vote for 1) 3185 ballots (0 over voted ballots, 0 overvotes, 4 undervotes), 8223 registered voters, turnout 38.73% Approved 1552 48.79% Reiected 1629 51.21 % Total 3181 100.00% Overvotes 0 Undervotes 4 STATE OF WASHINGTON ) ss. COUNTY OF WHATCOM ) This is to certify that on April 22, 2025, there was held a special election in Meridian School District 505, Whatcom County, Washington, for the submission of a ballot measure to the voters for their approval or rejection. The results of the election were duly canvassed by the Whatcom County Canvassing Board on May 2, 2025, and the results of said canvass are as reads above. Dated this 6th day of May, 2025, Bellingham, Whatcom County, Washington. Stacy Henthorn County Auditor FINAL Language Ballot Title Meridian School District 505 Proposition 2025-01 General Obligation Bonds - $70,900,000 The Board of Directors of Meridian School District 505 adopted Resolution No. 01-25 authorizing bonds. This proposition authorizes the District to construct and equip a new middle school facility to replace the existing Meridian Middle School; issue $70,900,000 of general obligation bonds maturing within a maximum of 20 years, and levy excess property taxes annually to repay the bonds, as provided in Resolution No. 01-25. Should this proposition be: Approved Rejected Explanatory Statement The Board of Directors of Meridian School District 505 adopted Resolution No. 01-25 approving a proposition for bonds. This proposition authorizes the District to construct and equip a new middle school facility to replace the existing Meridian Middle School, to issue $70,900,000 of general obligation bonds maturing within a maximum of 20 years, and to collect excess property taxes annually to repay the bonds, as provided in the Resolution. District Name: District Address: Contact Person 1 Whatcom County Auditor's Office Ballot Measure Coversheet Meridian School District 214 W. Laurel Rd, Bellingham, WA 98226 Dr. James Everett, Superintendent Name & Title 360-398-7111, jeverett@meridian.wednet.edu Phone & email Cynthia Weed, K&L Gates LLP Name 206-618-6050, cynthia.weed@klgates.com Phone & email Resolution with original signatures or a certified copy Explanatory Statement prepared by your attorney, not to exceed 100 words Committee Appointment Forms separate forms for each committee Completed Ballot Measure Coversheet Auditor's Office Use Receiver FEB U o Esc Whatcom C-ourtty E1acticns 6 ; —OA Proposition/Initiative Number �ak4m . Deputy Auditor's Signature Contact Person 2 Lisa Gilchrist, Director of Public Relations Name &Title 360-318-2159, Iilchrist@meridian.wednet.edu Phone & email Has your attorney prepared this ballot measure? QYes O No Yes 0 No Yes 0 No Yes 0 No Yes 0 No Missing document(s): I understand that the submittal deadline date for the missing documents is and the Auditor's Office will not begin processing this ballot measure until all documents have been submitted. Presenter's Signature Reviewed 12/12/2023 Received In Person FEB 0 6 2025 WhatCcm. Car* E ecoftr3 MERIDIAN SCHOOL DISTRICT NO. 505 WHATCOM COUNTY, WASHINGTON GENERAL OBLIGATION BONDS RESOLUTION NO. 01-25 A RESOLUTION of the Board of Directors of Meridian School District No. 505, Whatcom County, Washington, providing for the form of the ballot proposition and specifying certain other details concerning submission to the qualified electors of the district at a special election to be held therein on April 22, 2025, of a proposition for the issuance of its general obligation bonds in the aggregate principal amount of $70,900,000, or so much thereof as may be issued under the laws governing the indebtedness of school districts for the purpose of providing funds to construct and complete a new middle school to replace Meridian Middle School, and authorizing the Superintendent and/or Director of Business and Finance to submit a request for eligibility for the Washington State School District Credit Enhancement Program. ADOPTED FEBRUARY 5, 2025 PREPARED BY: K&L GATES LLP Seattle, Washington 508888581.1 MERIDIAN SCHOOL DISTRICT NO. 505 RESOLUTION NO. 01-25 TABLE OF CONTENTS* Page Recitals... .......................................................................................................................................1 Section1. Findings...............................................................................................................2 Section 2. Capital Improvements...........................................................................................2 Section 3. Authorization of Bonds......................................................................................... 3 Section4. Details of Bonds.................................................................................................... 3 Section5. Election................................................................................................................. 4 Section 6. Notices Relating to Ballot Title............................................................................ 5 Section 7. Request for Eligibility for the Credit Enhancement Program ............................... 5 Section8. Severability........................................................................................................... 6 Section9. Effective Date....................................................................................................... 7 * This table of contents and the cover page are not a part of this resolution; they are included for convenience of the reader only. 507792262.1 -1- 508888581.1 RESOLUTION NO. 01-25 A RESOLUTION of the Board of Directors of Meridian School District No. 505, Whatcom County, Washington, providing for the form of the ballot proposition and specifying certain other details concerning submission to the qualified electors of the district at a special election to be held therein on April 22, 2025, of a proposition for the issuance of its general obligation bonds in the aggregate principal amount of $70,900,000, or so much thereof as may be issued under the laws governing the indebtedness of school districts for the purpose of providing funds to construct and complete a new middle school to replace Meridian Middle School and authorizing the Superintendent and/or Director of Business and Finance to submit a request for eligibility for the Washington State School District Credit Enhancement Program. WHEREAS, improved facilities are needed in Meridian School District No.505, Whatcom County, Washington (the "District") in order to provide the students of the District with safe, adequate and efficient educational facilities; and WHEREAS, in order to provide all or a part of the funds to enable the District to undertake its needed capital improvement program, it is deemed necessary and advisable that the District issue and sell its unlimited tax general obligation bonds to provide funds for such purposes; and WHEREAS, the Constitution and laws of the State of Washington provide that the question of whether or not such bonds may be issued and sold for such purposes must be submitted to the qualified electors of the District for their ratification or rejection; and WHEREAS, in RCW ch. 39.98 (the "Credit Enhancement Act"), the State Legislature established a credit enhancement program (the "Program") for voter -approved school district general obligation bonds; and WHEREAS, Section 39.98.040 of the Credit Enhancement Act authorizes the state treasurer to make a determination that a school district is eligible for participation in the Program 508888581.1 if the state treasurer determines that the District is eligible under rules adopted by the state finance committee; and WHEREAS, the District may elect to participate in the Program upon an administrative determination that it is cost-effective; NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF MERIDIAN SCHOOL DISTRICT NO.505, WHATCOM COUNTY, WASHINGTON, as follows: Section 1. Findings. This Board of Directors (the "Board") hereby finds and declares that the best `interest of the students and other inhabitants of the District require the District to carry out the plans hereinafter provided at the time or times and in the order deemed most necessary and advisable by the Board. Section 2. Capital Improvements. The District shall construct and equip a new middle school to replace Meridian Middle School (the "Improvements"). The cost of all necessary planning, architectural, engineering, and other consulting services, inspection and testing, administrative and relocation expenses, on and off -site utilities, related improvements and other costs incurred in connection with the making of the foregoing capital improvements shall be deemed a part of the costs of the Improvements. Such Improvements shall include all necessary furniture, equipment and appurtenances. If available funds are sufficient from the proceeds of the general obligation bonds herein authorized in Section 3 for the above purposes (the "Bonds"), the District may use such funds to pay the principal of or interest on the Bonds. It is anticipated that the District expects to receive funds in the amount of $16,020,000 from the State of Washington (the "State") pursuant to Chapter 28A.525 RCW. The District 507792262.1 -2- 508888581.1 intends to apply such funds to the completion of the Improvements described in Section 2 and if not required for those purposes, then to pay principal of and/or interest on the Bonds. Such funds may also be used to make other capital improvements to the facilities of the District, but only after holding a public hearing thereon pursuant to RCW 28A.530.020. Section 3. Authorization of Bonds. For the purpose of providing all or a part of the funds necessary to pay the cost of the Improvements, together with incidental costs and costs related to the sale and issuance of the Bonds, the District shall issue and sell its Bonds which shall be unlimited tax general obligation bonds in the principal amount of not to exceed $70,900,000. The balance of the cost of the Improvements shall be paid with funds received from the State or out of any money which the District now has or may later have on hand which are legally available for such purposes. None of said Bond proceeds shall be used for the replacement of equipment or for any other than a capital purpose. The Bonds shall be issued in an amount not exceeding the amount approved by the qualified electors of the District as required by the Constitution and laws of the State or exceeding the amount permitted by the Constitution and laws of the State. Section 4. Details of Bonds. The Bonds provided for in Section 3 hereof shall be sold in such amounts and at such time or times as deemed necessary and advisable by this Board and as permitted by law, shall bear interest at a rate or rates not to exceed the maximum rate permitted by law at the time the bonds are sold, and shall mature in such amounts and at such times within a maximum term of twenty (20) years from date of issue, but may mature at an earlier date or dates, as authorized by this Board and as provided by law. The Bonds shall be general obligations of the District and, unless paid from other sources, both principal thereof and interest thereon (including original issue discount) shall be payable out of annual tax levies to be 5077922e2.1 -3 - 508888581.1 made upon all the taxable property within the District without limitation as to rate or amount and in excess of any constitutional or statutory tax limitations. The exact date, forrn, terms and maturities of the Bonds shall be as hereafter fixed by resolution of the Board. After voter approval of the Bond proposition described in Section 5 and in anticipation of the issuance of the Bonds, the District may issue short term obligations as authorized and provided by Chapter 39.50 RCW. Section 5. Election. It is hereby found and declared that the best interests of the District requires the submission to the qualified electors of the District of the proposition of whether the District shall issue the Bonds at a special election to be held on April 22, 2025. The Whatcom County Auditor as ex officio supervisor of elections is hereby requested also to call and conduct the special election to be held within the District and to submit to the qualified electors of the District the proposition set forth below. The Secretary of the Board is hereby authorized and directed to certify the proposition to said officials in the following form: 507792262.1 -4- 508888581.1 PROPOSITION NO. I MERIDIAN SCHOOL DISTRICT NO. 505 GENERAL OBLIGATION BONDS - $70,900,000 The Board of Directors of Meridian School District No.505 adopted Resolution No. 0 1 -25 authorizing bonds. This proposition authorizes the District to construct and equip a new middle school facility to replace the existing Meridian Middle School; issue $70,900,000 of general obligation bonds maturing within a maximum of 20 years, and levy excess property taxes annually to repay the bonds, as provided in Resolution #01-25. Should this proposition be: APPROVED.......................................................................................... ❑ REJECTED............................................................................................ ❑ The Secretary of the Board of Directors is hereby authorized to deliver a certified copy of this resolution to the Whatcom County Auditor. Section 6. Notices relating to Ballot Title. For purposes of receiving notice of the exact language of the ballot title required by RCW 29A.36.080, the Board hereby designates the (a) Superintendent (Dr. James Everett), telephone: 360.398.7111; email: jeverett@meridian.wednet.edu, and (b) bond counsel, K&L Gates LLP (Cynthia Weed), telephone: 206.618.6050 (cell); email: cynthia.weed@klgates.com, as the individuals to whom the Whatcom County Auditor shall provide such notice. The Secretary of the Board is authorized to approve changes to the ballot title, if any, deemed necessary by the Whatcom County Auditor or the Office of the Whatcom County Prosecuting Attorney. Section 7. Request for Eligibility for the Credit Enhancement Program. In preparation for the issuance and sale of the Bonds after approval by the voters, the Board hereby requests that the State Treasurer issue a certificate of eligibility in favor of the District for participation by the District in the Program with respect to the Bonds. The Superintendent 507792282.1 -5 508888581.1 and/or Director of Business and Finance is hereby authorized (following voter approval) to submit such applications, resolutions and certifications as shall be required by the State Treasurer in reviewing the District's request for participation. Section 8. Severability. In the event that any provision of this resolution shall be held to be invalid, such invalidity shall not affect or invalidate any other provision of this resolution or the Bonds, but they shall be construed and enforced as if such invalid provision had not been contained herein; provided, however, that any provision which shall for any reason be held by reason of its extent to be invalid shall be deemed to be in effect to the extent permitted by law. 507792282.1 -6- 508888581.1 Section 9. Effective Date. This resolution shall become effective immediately upon its adoption. ADOPTED by the Board of Directors of Meridian School District No. 505, Whatcom County, Washington, at a regular meeting held this 5th day of February, 2025. MERIDIAN SCHOOL DISTRICT NO. 505, WHATCOM COUNTY. WASHINGTON ATTEST: Secretary/Xthe Board of Directors 507792282.1 - 508888581.1 CERTIFICATE I, the undersigned, Secretary of the Board of Directors of Meridian School District No. 505, Whatcom County, Washington (the "District"), and keeper of the records of the Board of Directors (the "Board"), DO HEREBY CERTIFY: That the attached resolution is a true and correct copy of Resolution No. 01-25 of the Board (herein called the "Resolution"), duly adopted at a regular meeting thereof held on the 5th day of February, 2025. 2. That said meeting was duly convened and held in all respects in accordance with law, and to the extent required by law, due and proper notice of such meeting was given; that a legal quorum was present throughout the meeting and a legally sufficient number of members of the Board voted in the proper manner for the adoption of said Resolution; that all other requirements and proceedings incident to the proper adoption of said Resolution have been duly fulfilled, carried out and otherwise observed; and that I am authorized to execute this certificate. IN WITNESS WHEREOF, I have hereunto set my hand this 5th day of February, 2025. Sec ary oft e Board of Directors 508888581.1 OFFICIAL BALLOT MERIDIAN SCHOOL DISTRICT NO. 505 WHATCOM COUNTY, WASHINGTON April 22, 2025 INSTRUCTIONS TO VOTERS: To vote in favor of the following proposition, place a cross (X) in the square opposite the word "APPROVED"; to vote against the following proposition, place a cross (X) in the square opposite the word "REJECTED." PROPOSITION NO. 1 MERIDIAN SCHOOL DISTRICT NO. 505 GENERAL OBLIGATION BONDS - $70,900,000 The Board of Directors of Meridian School District No. 505 adopted Resolution No. 01-25 authorizing bonds. This proposition authorizes the District to construct and equip a new middle school facility to replace the existing Meridian Middle School; issue $70,900,000 of general obligation bonds maturing within a maximum of 20 years, and levy excess property taxes annually to repay the bonds, as provided in Resolution #01-25. Should this proposition be: APPROVED.......................................................................................... ❑ REJECTED............................................................................................ ❑ 508888581.1 NOTICE OF SPECIAL ELECTION MERIDIAN SCHOOL DISTRICT NO. 505 WHATCOM COUNTY, WASHINGTON April 22, 2025 NOTICE IS HEREBY GIVEN that on Tuesday, April 22, 2025, a special election will be held in the above -named school district for the submission to the qualified electors of said school district of the following proposition: PROPOSITION NO. 1 MERIDIAN SCHOOL DISTRICT NO. 505 GENERAL OBLIGATION BONDS - $70,900,000 The Board of Directors of Meridian School District No. 505 adopted Resolution No. 01-25 authorizing bonds. This proposition authorizes the District to construct and equip a new middle school facility to replace the existing Meridian Middle School; issue $70,900,000 of general obligation bonds maturing within a maximum of 20 years, and levy excess property taxes annually to repay the bonds, as provided in Resolution #01-25. Should this proposition be: APPROVED.......................................................................................... ❑ REJECTED............................................................................................ ❑ Whatcom County Auditor P 508888581.1 Election Date: April 22, 2025 Name of Jurisdiction Submitting Measure: Meridian School District No. 505, Whatcom County, Washington Contact Name: Cynthia Weed Daytime Contact Phone Number: cell phone: 206-618-6050 Word Count - 70 EXPLANATORY STATEMENT - PROPOSITION NO. 1 The Board of Directors of Meridian School District No. 505 adopted Resolution No. 01- 25 approving a proposition for bonds. This proposition authorizes the District to construct and equip a new middle school facility to replace the existing Meridian Middle School, to issue $70,900,000 of general obligation bonds maturing within a maximum of 20 years, and to collect excess properly taxes annually to repay the bonds, as provided in the Resolution. 5508888646.1