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Park Ridge CCSD 64 advisers outline plan to sell remaining referendum bonds, report lower-than-expected tax impact
Summary
District financial advisers told the board the district will sell the remaining tranche of referendum bonds in January, keep the district's AA1 rating, and expects lower net tax impact and roughly $2.75 million in interest earnings on bond proceeds; parameters resolution will return for board action in December.
District finance advisers told the Park Ridge Community Consolidated School District (CCSD) 64 board on Nov. 13 that market conditions make this winter a favorable time to sell the remaining portion of the district’s referendum bonds and that financial steps taken last year limited the tax impact on homeowners.
Liz (underwriter) said the district retains a strong AA1 rating and expects to meet rating agencies on Dec. 10. She recommended a January sale window—targeting the first weeks of January for marketing and a Jan. 26 closing for the remaining proceeds—because many bonds mature at the start of the…
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