EPHRATA SCHOOL DISTRICT TO HOST PUBLIC HEARING ON BOND DEFEASANCE
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The Ephrata School Board will hold a public hearing to receive comment on the District’s plan to return unspent bond funding, through a process called defeasance, to the people of Ephrata. The hearing is scheduled for 6:00 p.m. on Monday, November 27 and will be held in the District’s Board Room at 357 Alder Street NW, Ephrata.
This public hearing follows a decision made in September to place the remodel of Grant Elementary School on-hold due to skyrocketing costs of construction. In June, renovations to Ephrata High School’s Performing Arts Center (PAC), the PAC gymnasium and the Beezley building on the high school campus were halted due to soaring costs. All projects were part of a $27.89 million dollar bond passed by the Ephrata community and matched with state funds in 2019.
If, after receiving public comment, the board elects to defease the approximately $6.2 million of unspent dollars, the process will begin following the adoption of an amended resolution. The date of the future public meeting to review and approve the amended resolution has yet to be established.
A bond 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. If approved, this action will lead to the district reducing future tax amounts.
All residents that wish to be heard are invited to attend the public meeting on Monday, November 27 and present their views. The district will also accept written comment via email to Ephrata School District Superintendent, Tim Payne at tpayne@ephrataschools.org. If written or in-person comments are not possible, please contact the Ephrata School District Office at (509) 754-2474 to make alternative arrangements.
Concurrent with this process, the District has started work on plans for a bond in February of 2026 or 2027 that will address the needs of Ephrata Schools. A facility study group will be formed that includes staff, experts and a diverse group of community members. These individuals will be tasked with developing a comprehensive vision and plan for the next bond. Ephrata Schools, despite the change in plans, is committed to keeping the combined bond and levy taxes close to $4.80 per $1,000 of assessed value.
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About Ephrata Schools:
Since 1909, Ephrata Schools have provided a quality public education to all students, regardless of ability, race, wealth, language, religion or country of origin. At Ephrata Schools, we exist for kids and learning. We are deeply committed to every child's journey and work hard to ensure that every student graduates ready for career and life. For more information about the Ephrata School District, please visit www.EphrataSchools.org.
Media Contact:
Sarah Morford, Communications Director
Office: (509) 754-7235
smorford@ephrataschools.org