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District 208 approves up to $4.5 million working cash bonds to fund campus improvements tied to Brookfield Zoo sublease
Summary
The Board of Education approved issuance of up to $4.5 million in General Obligation Limited Tax School Bonds, Series 2026, to increase the district’s Working Cash Fund and finance campus renovations connected to a sublease with the Brookfield Zoo; the sale was authorized to Raymond James & Associates, Inc.
The Board of Education of Township High School District 208 voted Jan. 20 to approve a resolution authorizing the issuance of not-to-exceed $4,500,000 General Obligation Limited Tax School Bonds, Series 2026, to increase the district’s Working Cash Fund for campus improvements tied to a sublease with the Brookfield Zoo. The resolution was moved by Board member Lorena Gasca and seconded by Nicholas Novak; all seven board members voted AYE.
District leadership described the financing as necessary to complete renovations of property north of the high school under a sublease arrangement with the Brookfield Zoo. The resolution authorizes the levy of a direct annual tax to pay principal and interest and authorizes the sale of the bonds to Raymond James & Associates, Inc., as presented in the Jan. 20 agenda packet. The board did not amend the dollar cap; the ceiling remains $4.5 million.
The approval follows updates earlier in the meeting from Superintendent Dr. Kevin Skinkis about the district’s SB637 project with the Zoo and the schedule for remaining property-tax installments the district is receiving from the county. The resolution will permit the district to increase liquidity in its Working Cash Fund to proceed with the planned campus improvements.
