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Effingham Unit 40 board approves resolution authorizing up to $37 million in debt, issues $36.22 million certificates
Summary
The board approved a resolution authorizing the issuance of general obligation debt certificates not to exceed $37,000,000 and related installment purchase agreement evidencing rights to payment for $36,220,000 to pay for a new building and facility improvements.
The Effingham Unit 40 Board of Education voted to move forward with a financing plan for new construction and facility improvements, approving a resolution that authorized issuance of general obligation debt certificates not to exceed $37,000,000 and an installment purchase agreement evidencing $36,220,000 in certificates.
Board members described the action as the mechanism to fund a…
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