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Board approves $55,679.74 debt‑service transfer; tax‑rate impact under one cent
Summary
By voice vote the board approved a $55,679.74 debt‑service transfer to the operations fund under 'House Enrolled Act 12 10', which staff said will raise the estimated tax rate by about 0.0095 (just under one cent).
The board approved a transfer of $55,679.74 from debt service to the operations fund in accordance with guidance identified in the meeting as 'House Enrolled Act 12 10' and DOE/DLGF guidance.
A staff presenter summarized the transaction and the estimated tax-rate impact, saying the transfer’s effect would be "slightly under 1¢ at 0.0095." The motion was moved, seconded and approved by voice vote. Staff said the matter had been explained previously at a work session and invited additional questions before the vote.
