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Cicero SD 99 board hears plan to sell up to $25M in working cash bonds
Summary
At a March 11 public hearing, Cicero School District 99 officials heard a presentation from PMA Securities on a proposed sale of up to $25,000,000 in General Obligation Limited School Bonds, Series 2026 to bolster the district's Working Cash Fund; no formal vote on the bond sale was taken.
The Cicero School District 99 Board of Education held a public hearing March 11, 2026 at Columbus East School to consider the district's intent to issue up to $25,000,000 in General Obligation Limited School Bonds, Series 2026 to increase its Working Cash Fund. Dr. Calderin introduced Bob Lewis of PMA Securities, who presented the district's financing structure and the next steps for a potential sale.
Lewis told the board that, "since the last presentation, he noted that due to the current issues with Iran and the oil market, this resulted in the market rates increasing," and said the firm would continue to monitor rates to identify the most feasible timing. He also said a proposed resolution to be brought to the board at a subsequent meeting would give the district flexibility to adjust issuance timelines as market conditions change. No formal motion or vote to approve the bond sale occurred at the March 11 hearing.
