Hospital District 1 Proposition 1: $382M bonds for replacement Monroe hospital

Official plain English statement

Snohomish County Public Hospital District No. 1 (the "District") operates EvergreenHealth Monroe Medical Center, which includes a hospital and other health care facilities located in the City of Monroe. The District has determined that the existing condition of its hospital requires that the District construct a new replacement hospital and related health care facilities on its existing campus and make other capital improvements to address the healthcare needs of the community (the "Project"). To pay for the costs of the Project, the District is proposing a ballot proposition to be voted on by the voters of the District. lf approved, this proposition would authorize the District to issue no more than $382,000,000 of general obligation bonds maturing within 30 years to be repaid from an annual excess property tax levy. Based on projected assessed values, the District estimates an average tax rate for this proposed levy of $0.437 per $1,000 of assessed value over the life of the bonds, or an estimated average rate of $40.75 per month for a home with an assessed value of $745,000. Exemptions from taxes may be available to certain homeowners. For more information, please call the Assessor's Office in Snohomish County at 425-388-3433.