City of Washington Submits Final Payment of Swimming Pool Revenue Bonds Ten Years Early

In June 2006, the Washington Swimming Pool committee began exploring options to replace the existing swimming pool, which was over 50 years old, and suffering from significant deterioration. Initial committee members were Lila Keesecker, Denise Powell, Dan Thalmann, Traci Hattesohl, Roxanne Schottel, Caroline Scoville, and then-City Administrator Tim Schook as technical advisor.

The final cost of the project was $1,070,000.00, and was financed by a 1% retailer’s sales tax, as approved by voters at the April 7, 2009, general election. The City Council chose to issue revenue bonds to finance the project over a period of 20 years.

City Council directed the proceeds from the sales tax be used to pay the costs of the City swimming pool project, as well as street and other public infrastructure projects in the City.

Actual sales tax revenue exceeded initial projections, which allowed the City Council to approve the final payment January 7, 2019, in the amount of $795,442.50 on the revenue bonds a full ten years early.