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Cary CCSD 26 board approves resolution to issue up to $5.5 million in school bonds
Summary
The Cary Community Consolidated School District 26 board voted unanimously among members present to approve a parameters resolution authorizing general obligation school bonds not to exceed $5.5 million to alter, repair and equip existing school sites; trustees noted the president’s name in the resolution will be updated before final signatures.
The Cary Community Consolidated School District 26 Board of Education voted on April 27 to approve a parameters resolution authorizing the issuance of general obligation school bonds not to exceed $5.5 million.
The resolution, described by the board as providing funds “for the purpose of altering, repairing, equipping, and improving the sites of existing school buildings,” also authorizes the levy of a direct annual tax sufficient to pay principal and interest and permits the proposed sale of the bonds to a purchaser.
The vote was carried by the six trustees present; one trustee, Jason Jansik, was recorded as absent. Trustees voting in favor were Katherine Potter, Bridget Sandlin, Mindy Hartman, D. Darling, Julie Jetty and Stacy Salt.
Trustees flagged a clerical item that will be corrected before the documents are finalized: a member noted the resolution text should be updated to reflect the newly elected board president’s name prior to signature.
Why it matters: The bond proceeds will fund repairs and improvements at district properties. Under Illinois law and district practice, the parameters resolution sets the maximum principal and basic terms now; sale details and final authorizations follow in subsequent steps.
The board did not specify a timetable for bond sale beyond the authorization in the resolution. The board moved on to other business following the vote.
