Effingham CUSD 40 hears $55 million facilities financing plan; board shown tax, timing options

The Effingham CUSD 40 School Board on Tuesday heard a detailed finance presentation from Anne, a representative from Stifel, on options to fund a proposed Phase 1 facilities package that the district’s architects estimate at about $55 million. The package described to the board includes a new K–2 building with a gym, renovations at South Side and Central, and paving projects.

The presentation laid out three non-referendum borrowing tools the district can use: health-life-safety bonds for state-eligible safety items, working-cash borrowing drawn from the district’s statutory capacity, and a two-step funding-bond approach that begins with short-term debt certificates. Anne said, “You are using every tool in your toolbox,” as she reviewed how the pieces could combine to cover the $55 million estimate.

Why it matters: the plan would add long-term debt and increase the district’s property-tax levy if the board sells the full amount. Anne presented two illustrative payback scenarios: a 20‑year…