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Board hears bond plan and levy options to fund Rockford SD 205 facility master plan
Summary
Administrators outlined a two‑step bond issuance of up to $50 million and three tax‑levy scenarios; consultants said the initial borrowing could be structured without increasing the bond and interest levy and districts countywide plan a March ballot 1% sales‑tax proposal if certified by mid‑December.
Dr. Brown, presenting for the planning and development committee, briefed trustees on facility master plan financing and a proposed two‑step borrowing process to issue up to $50 million in working‑cash funds. He said the district has spent roughly $30 million from cash reserves so far on the master plan and that the next step is to begin issuance of bonds with public hearings and formal resolutions scheduled for upcoming…
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