CHSD 218 board approves $7 million in bonds to fund school renovations and additions

Community High School District 218’s Board of Education on Thursday voted to authorize the issuance of general-obligation school bonds not to exceed $7,100,000 and approved terms to sell the issue to Raymond James & Associates.

Elizabeth, the district’s business manager, told the board the bonds were sold in the market after the Federal Reserve’s recent 50-basis-point rate cut and “were sold completely, all spoken for to investors, including individuals and banks and insurance companies.” She said the issue’s all-in interest cost is 3.62% and that the district will receive approximately $7,000,000 in proceeds to apply toward capital projects.

The bond resolution authorizes the pledge of certain revenues and the levy of a direct annual tax to pay principal and interest if pledged revenues are insufficient. Board members moved the resolution to the floor, discussed the market update provided by Elizabeth and then approved the measure by roll-call vote; the presiding official announced that the motion carries.

Why it matters: The board said the proceeds will support planned improvements to building sites, additions and renovations for auditoriums and fieldhouses, and other repairs and equipment needs across the district. Approving the sale puts the district’s capital plan into motion and locks in the financing terms the board reviewed at the meeting.

Votes at a glance: In addition to the bond resolution, the board approved resolutions and commendations recognizing student achievements; it approved the consent agenda after removing agenda item 11 (superintendent personnel recommendations) for later discussion in closed session; and it moved to appoint a Worth Township school trustee. All recorded roll-call votes on these items were announced as carrying during the meeting.

Other business: Board updates included routine financial reports for July and August, a technology update, a student enrollment report noting the district is 'close to 5,500 students'—similar to pre-COVID levels—and a general maintenance report praising custodial work. Staff reported that regular transportation is operating well while some special-education transportation vendor issues remain, and that meal participation rose in August. The construction update covered Eisenhower and Shepherd auditorium and fieldhouse projects; a board member asked about making livestreams available on the district website for non-Facebook users.

Personnel and next steps: The board removed personnel recommendations from the consent agenda for discussion in closed session and later moved into closed session to discuss appointment, employment, compensation or performance of a specific employee and pending or probable litigation; Greg (staff) was asked to remain. No public commentary or further action on the personnel item was recorded in the public portion of the meeting.

The meeting record shows unanimous recorded 'aye' or 'yes' responses during roll-call votes for the items taken up; the presiding official confirmed motions carried as announced by the secretary.