Murphysboro board hears $5.3M financing plan to finish high school gym, weighs parking expansion

Murphysboro CUSD 186 officials told the school board on Jan. 26 that they expect to seek at least $5.3 million in debt certificates to finish construction of the new Murphysboro High School gym and discussed whether to include a larger parking expansion in the financing plan.

Jason Pinkerton, a financial consultant with DMA, outlined a financing package he said would allow the district to finish the gym and preserve options for future projects. Pinkerton described two linked elements: issuing about $5.3 million in debt certificates over a 10–15 year term to cover outstanding gym costs, and a potential later issuance of roughly $5 million in alternate‑revenue bonds (paid from the county school facilities sales tax) for projects such as a Carruthers auditorium/kitchen remodeling. "To borrow $10,300,000, the district's final payment would be in 2042," Pinkerton said, explaining the tradeoff of longer payment terms and coverage constraints.

Why it matters: The board has already spent a portion of the gym budget and the district faces immediate cash needs to pay contractors.…