2019 Bond Frequently Asked Questions

Roughly $6.2 million of state matching funds remain from the Columbia Ridge and Ephrata Middle School projects. All $27.89 million of local funds were spent on these two schools.

Ephrata Schools received a total of $53.9 million in state matching funds for projects across the school district. Dollars received for projects that have yet to be completed stay with each school / building until work begins. These dollars may only be used for these buildings.

*Ephrata School District was eligible for these dollars at the time of the projects. These funds may increase / change as state funding evolves.

COLUMBIA RIDGE ELEMENTARY: $22,483,688

EPHRATA MIDDLE SCHOOL: $28,631,212

Original Budget: $14,481,204

*Bid costs came in higher by 63 percent.

Defeasance is a process that sets aside and invests the remaining bond dollars in escrow to ensure that the principle and interest payments on the bonds are guaranteed and can be made when the bonds come due. By defeasing $6.2 Million in remaining bond funds, the school district projects taxpayers will save roughly $8.1 Million in taxes over 15 years. ($0.16/$1,000 to $0.48/$1,000 depending on the year)

The process sets up the District's ability to stop taxing Ephrata taxpayers for the portion of the defeased bonds. The earliest this can occur is December 2028, when the 2019 bond becomes callable.