Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
School City of East Chicago approves $6.5 million bond for HVAC upgrades
Summary
The School City of East Chicago approved a $6.5 million general-obligation bond resolution to fund HVAC improvements across district schools; bond counsel said the debt will be tax-exempt, 5–7 year maturities and tax-rate neutral.
The School City of East Chicago Board of School Trustees voted unanimously Tuesday to adopt a 2025 bond package that will allow the district to issue $6,500,000 in general-obligation bonds to finance heating, ventilation and air-conditioning upgrades.
The measure was introduced under new business as agenda item 6.06. Bond counsel James Shanahan of Taft Law told the board the interest on the bonds “are exempt from income tax,” a feature that provides lower borrowing costs. Shanahan said the plan contemplates maturities of roughly…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
