District Exploring Financing Option to Support Ferrucci Restoration and Maintain Project Schedules 

As the Puyallup School District continues planning for the restoration of Ferrucci Junior High following the April 4 fire, district leaders are evaluating a financing option that would help keep restoration work and other capital projects moving forward as planned. 

The proposed Limited General Obligation (LGO) Bond is intended to address a temporary cash-flow timing need created by the significant costs associated with restoring Ferrucci Junior High. While funding sources that support capital projects are expected to be available over time, project expenses often occur before all anticipated revenues are received. 

An LGO bond would provide short-term financing that allows the district to continue moving forward with critical restoration work and other voter-approved projects without diverting resources from classroom operations. 

If approved, the financing would: 

• Address a temporary cash-flow timing issue related to Ferrucci restoration costs 
• Keep restoration work and other capital projects on schedule 
• Protect classroom funding by ensuring capital expenses remain within the district’s Capital Projects Fund 
• Support voter-approved projects already underway 
• Require no tax increase for taxpayers 

The proposal is not intended to fund new projects, but rather to ensure that important work already approved and underway can continue without interruption while anticipated revenues are received over time. 

The district is committed to providing transparent information throughout the process and helping community members understand how the financing would work, how it would be repaid, and why it is being considered. 

Learn more by visiting this webpage.