What is the difference between a LEVY and a BOND?
Walla Walla Public Schools will seek renewal of its Replacement Education Levy in February. Levies are different than bonds.
Levies pay for educational programs and opportunities for students the state does not fund. Levies support school programs like music, art, honors courses, athletics, and a variety of experiences that Walla Walla parents and stakeholders have supported at the ballot for half a century.
Bonds are used for the construction of new schools, major building remodels or major facility upgrades. Walla Walla Public Schools voters approved a replacement bond in November 2018 to address such facility improvements.
Below is additional information explaining the differences between a levy and bond.
Levies = Learning
• Levy funds are used to support student programs and opportunities that are not paid for by state and federal funding.
• Levies are implemented in over 95% of Washington School Districts
• Levy funds are generally collected over a 4-year period and must be renewed every 4 years.
Bonds = Buildings
• Bond funds are generally repaid over a 15-20 year period.
• Bond funds cannot be used for program or instructional purposes.
• Bonds can only be used for construction, renovation of buildings, major repairs and other facility/property related purposes