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Lincolnwood SD74 approves $2.8M in bills and authorizes start of $6M bond process timeline
Summary
Board approved $2,796,522.68 in bills payable and authorized administration to begin the process for a possible $6,000,000 General Obligation Working Cash Bond with an 11-year payback schedule; motions passed unanimously with one absence.
At the May 7 meeting the Lincolnwood School District 74 Board approved bills payable totaling $2,796,522.68 and authorized administration to begin steps necessary to pursue a potential $6,000,000 General Obligation Working Cash Bond.
Business Manager Courtney Whited presented the February 2026 finance report and the bills payable amount of $2,796,522.68; Member Elissa B. Rosenberg moved approval and Vice President Myra A. Foutris seconded. The motion passed with ayes from Foutris, Vranas, Oleniczak, Rosenberg, Seta and Theodore and one absence (Kwon).
Separately, the board voted to authorize the administration to begin the legal and procedural steps to pursue a General Obligation Working Cash Bond in the amount of $6,000,000 using an 11-year payback scenario. The minutes record a preliminary timeline of required board actions and hearings from December 3, 2026, through a projected bond close on February 25, 2027. Secretary John P. Vranas confirmed the motion directs staff to move forward with required processes but does not yet obligate the board to issue the bond.
