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High School Gym Project Delayed; Board Approves Adviser to Issue Debt Certificates
Summary
Board members heard that the high school gym construction is behind schedule and likely to miss its contractual Dec. 31, 2025 completion date; the contractor currently targets March 9, 2026. The board also approved a municipal advisory agreement with PMA Securities to help issue debt certificates for project funding.
Unit District 196 officials told the board on Sept. 23, 2025, that the high school gym construction is behind schedule and the district has approved hiring PMA Securities as municipal adviser to proceed with debt certificates to fund the project. District staff and the architect said the contractor’s original contractual completion date of Dec. 31, 2025, is unlikely to be met; the contractor’s current schedule targets a March 9, 2026 handover.
The schedule change matters because the facility is a major capital project financed in part by bonds and district debt instruments. Board approval of the municipal advisory agreement with PMA Securities allows staff to proceed with planning and…
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