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Argo CHSD 217 schedules public hearing on proposal to sell up to $5 million in working cash bonds
Summary
Argo CHSD 217 reported it intends to issue up to $5,000,000 in Working Cash Fund bonds and directed that notice be published; the district said the formal hearing will occur at the April board meeting.
Argo CHSD 217 said it intends to issue bonds in an aggregate amount not to exceed $5,000,000 to increase the district’s Working Cash Fund and directed that notice of the intention be published in the manner provided by law. The district recorded the intention on the finance committee agenda as Resolutions #25-26-R05 and #25-26-R06 and stated that the formal public hearing will take place at the April board meeting.
The notice on the agenda indicated the Working Cash Fund would be maintained in accordance with statutory provisions and used to ensure the district has sufficient cash on hand to meet corporate expenditures as needed. No vote or final sale was recorded at the March 25 finance committee meeting; the committee listed the hearing for the full board meeting in April for formal consideration.
Why it matters: issuing working cash bonds would allow the district to temporarily increase available cash for operating needs; a public hearing gives taxpayers an opportunity to comment on the plan before any sale is finalized. The finance committee did not record a final action at this meeting; the next step is the scheduled April board meeting when the public hearing will be held and any formal board action would be recorded.
