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Cicero SD 99 board advances $25 million bond proceedings, schedules public hearing
Summary
The Cicero School District 99 board approved resolutions to call a public hearing and begin preliminary proceedings for up to $25,000,000 in General Obligation Limited School Bonds, Series 2026, and declared intent to reimburse capital expenditures with bond proceeds.
The Board of Education of Cicero School District 99 voted Feb. 11, 2026 to move forward with proposed borrowing and public engagement tied to long‑range capital needs.
On unanimous recorded votes of those present, the board approved a resolution calling a public hearing on the district’s intent to sell not to exceed $25,000,000 in General Obligation Limited School Bonds, Series 2026, and a companion resolution authorizing preliminary proceedings and declaring the district’s official intent to reimburse certain capital expenditures with bond proceeds. The actions were taken after a presentation earlier in the meeting on possible financing scenarios.
Bob Lewis of PMA Securities had outlined several sale scenarios and a timeline for issuance. The board did not request changes and no public questions were raised during the presentation. The resolutions were approved in separate motions (the public hearing resolution was moved by Member Moreno and seconded by Member Terracino; the preliminary proceedings resolution and reimbursement declaration were moved and seconded as noted in the minutes).
Next steps include publishing notice and holding the public hearing required by statute for the proposed bond sale, continuing coordination with the district’s financial advisor and returning to the board with final sale documents and recommended timing.
