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Lockport 205 holds public hearing on $16M life‑safety bond as members spar over fund balances
Summary
The Lockport Township High School District 205 board held a public hearing on a proposed life‑safety bond to finish central‑campus repairs, including roof and electrical work, and debated whether to finance now or draw on cash reserves; staff said bond timing requires direction by May 18.
At a public hearing opened by the board president, district staff outlined a plan to fund central‑campus life‑safety work—roof replacement, exterior wall tuckpointing and electrical and window replacement—using a mix of fund balances and bond financing over multiple issuances.
The administration said the broader financing plan calls for several issuances over three years; if the full plan is used the district estimated the owner of a home valued at $356,185 would see about $56 added to the 2027 tax bill and an additional $56 in each of 2028 and 2029, for a total increase of about $168 if all bond issuances proceed. The board held the hearing to receive public input before any final vote.
Board members pressed administrators and their financial advisers on how much of the 10‑year facilities plan would be paid from fund balances versus financed. Board member Tammy questioned the frequency of bond sales and whether the district was keeping an unusually large cash cushion: “We have how many years if we get the bond to use that life and safety money on life and safety?” she asked, and later said the board should be clear on how much fund balance it is prepared to spend.
Superintendent Dr. McBride and the district’s adviser recommended financing rather than depleting cash reserves, saying current market conditions make bond sales cost‑effective and that maintaining liquidity preserves options for upcoming labor negotiations, rising health costs and other unplanned needs. The superintendent said a May 18 deadline is relevant if the board wants to stay on the timetable for an issuer to prepare and banks to bid on a sale.
Several board members urged more information before committing: they asked for the five‑year and 10‑year financial forecasts and for committee or special meetings to provide direction. The administration acknowledged those requests and said staff would provide the forecast and additional briefing materials.
No final bond vote occurred at the hearing. The board closed the public hearing by motion and roll call at 8:10 p.m.; any future action on the bond issuance will require a formal vote in a properly noticed meeting.
The public hearing record will be part of the board’s packet for the next steps; staff said they need clear direction to meet the district’s financing timeline.
