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For more information contact Kate Manley at 360-902-9028 or kate.manley@tre.wa.gov.

School Bond Guarantee Program

The School Bond Guarantee Program provides credit enhancement to voter-approved general obligation (GO) bonds issued by school districts. The program provides savings to state taxpayers by pledging the full faith and credit of the state to the payment of voter-approved school district GO bonds. This provides the bonds with the state's strong credit rating.

The program is authorized in chapter 39.98 RCW. The administrative rules are found in WAC 210-02.

School Bonds totaling over $15.2 billion have been guaranteed by the program. The state's independent financial advisor estimated in December 2012 that the program saves taxpayers around $9 million annually. The state has not been called upon to pay debt service on any school debt.

As of August 1, 2014:

  • Number of school districts with outstanding bonds guaranteed by program: 176
  • Number of bond issues guaranteed by program that have outstanding balances: 495
  • Aggregate total principal amount outstanding on bond issues guaranteed: $8,982,393,447.35

View Program History

Related Information

Note that several documents were updated in July 2014. Please make sure you have the latest version of each document.