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Public hearing held on proposed $4.57 million life‑safety bonds; no public testimony
Summary
The board held a required public hearing on a proposed $4,573,336 issuance of life‑safety bonds to fund urgent facility repairs; no members of the public spoke and the hearing was adjourned.
The Community High School District 99 Board of Education held a public hearing on a proposal to issue $4,573,336 in life‑safety bonds to fund repairs and upgrades required by the regional office of education.
Jari, the district finance presenter, said the district lacks sufficient operating funds to cover the estimated $4.5 million cost and therefore proposes issuing life‑safety bonds so the work can proceed without depleting operating accounts. “The total cost is around $4,500,000… by issuing these life safety bonds, it'll allow the district to complete the work now while preserving operating funds for educational purposes,” Jari said.
The hearing is required by Illinois school code and provided an opportunity for public comment. The board announced the projects have been approved by the regional office of education. No members of the public requested to provide oral or written testimony during the hearing. Chris Espinosa moved to adjourn the hearing; Michael Riske seconded the motion. The roll call vote carried with board members voting aye and the hearing was adjourned.
Jari told the board the formal resolution to authorize issuance will be brought before trustees at the Nov. 17 board meeting for final approval and sale of bonds.
