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Lincoln Way board weighs issuing bonds to fund life‑safety capital projects
Summary
Board members reviewed life‑safety survey findings and discussed using a new Illinois law to issue bonds to pay for HVAC, roof and other capital repairs; no vote was taken and administrators will return with financing scenarios in February and March.
Board members of the Lincoln Way Community High School District on Jan. 16 reviewed life‑safety inspection findings and discussed whether to issue bonds under a recent Illinois law to fund major HVAC, roof and other capital projects. The board did not take action; administrators said they will return with financing scenarios from advisers in February and seek formal approvals in March if the board chooses to proceed.
The discussion matters because the district’s inspectors and architects recommended a multi‑year program to repair or replace aging heating, ventilation and air‑conditioning systems and some roofs at Lincoln Way East and Lincoln Way Central. The administration described an approach that would complete a first phase in 2026 and a second phase in 2027 if the board pursues a bundled bond sale.
The administration described the district’s current debt position and options for paying for capital work. “We went back, we were able to refinance $135,000,000 at under 2%,” a board presenter said, noting the district has an…
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