CHSD 155 board approves parameters for up to $14 million alternate revenue bond sale to fund stadium and facility work

The Community High School District 155 Board of Education on Jan. 14 approved a parameters resolution authorizing the issuance of not-to-exceed $14,000,000 in general obligation alternate revenue bonds to finance renovations, repairs and equipment for district facilities, including the stadiums at Cary-Grove High School, Crystal Lake Central High School, Crystal Lake South High School and Prairie Ridge High School. The motion passed on a roll-call vote with all members present voting yes.

The measure delegates authority to district administration and a board designee to sell the bonds on a day judged most advantageous in the municipal market and contemplates the board later adopting a resolution that would pledge revenues and levy a direct annual tax if pledged revenues prove insufficient. "I'm seeking a motion to approve the parameters resolution authorizing the issuance of not to exceed $14,000,000 general obligation alternate bonds," said Dr. Werner, the district's assistant superintendent for finance and operations, introducing the item.

District financial advisor Tammy Beck gave a market update and explained how recent shifts in municipal yields affect expected…