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Jacksonville SD 117 board authorizes up to $15,555,000 in bonds for new elementary school
Summary
The Jacksonville School District #117 Board unanimously approved a resolution Feb. 18 authorizing issuance of up to $15,555,000 in general obligation alternate bonds to build and equip a new elementary school; the board also approved a related surety bond with a $604 annual premium.
The Jacksonville School District #117 Board of Education voted unanimously on Feb. 18 to authorize the issuance and sale of general obligation alternate bonds in an aggregate principal amount not to exceed $15,555,000 to build and equip a new elementary school.
Mrs. Wilson moved the resolution, and Mr. Lonergan seconded. The board recorded unanimous support (Yea: Wilson, Lonergan, Pool, Stewart, Leonard, Trace, Beard). The meeting packet also included approval of a surety bond for the 2025 bond issue with an annual premium of $604.00, which the board approved before taking the bond resolution vote.
The board discussed site infrastructure and the district's Vision 117 Phase IV planning earlier in the meeting, including architect work on sewer and drainage to reduce construction costs. No sale date or bond pricing was specified in the meeting minutes; the resolution authorizes the board and its financial advisors to proceed with bond issuance up to the stated maximum.
