District 210 wins improved bond rating; life‑safety bonds and debt certificate sold at favorable rates

The Lincoln Way Community High School District 210 board received an update on the district's bond ratings and the recent sales, which officials said yielded favorable interest rates and improved market reception. District staff reported the district's rating recovered to a high level (S&P double‑A‑3 / Moody's equivalent) after prior declines, which staff said helped secure better interest rates for the recent life‑safety bond sale and a debt certificate to purchase buses.

Mike, a district finance staff member involved in the sale presentation, said the life‑safety bonds were underwritten by Truist Securities and the full cost of issuance showed an effective tick in the vicinity of the low‑4 percent range; the smaller debt certificate for buses drew fewer bidders and priced at a lower rate (about 3.49 percent in the presentation). Mike said the life‑safety bonds will mature in 2037 and the debt certificate carries a final maturity shown in the materials. Closing on the sale documents is scheduled for June 2.

Officials noted the district refined its assumptions during the sale process and ended up roughly $1 million better on the life‑safety bonds than earlier projections. The presentation also summarized that refinancing and bond activity in 2022 produced savings for taxpayers and the district has worked to restore more robust reserve and budgetary practices since earlier rating downgrades.

Board members asked procedural questions about signatures and next steps, and the presentation closed with staff saying they would work with bond counsel, underwriters and trustees to complete closing paperwork.