The Ephrata School District is defeasing bonds that were to be used for improvements to campuses in the district. Some campuses such as Columbia Ridge Elementary, pictured, were completed, but economic fluctuations and increased construction costs made it so the bonds, approved in 2019, didn't stretch as far as originally projected.
December 13, 2023
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Ephrata schools defeasing bonds due to inflation
EPHRATA – The Ephrata School District is moving forward with the process to defease a nearly $28 million bond approved by voters in 2019, said Superintendent Tim Payne in a Monday morning interview. “Where we’re at in the process is the board had a hearing,” Payne said. “You have sort of changed the bond away from its intended purpose, (so) you have to go through the same process (as the initial approval) whether you’re defeasing or you’re gonna say, ‘Gosh, we couldn’t build that building now.’”