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Board hears life-safety bond options as PMA outlines debt capacity and timeline
Summary
PMA Securities presented life-safety bond scenarios and a preliminary timeline for a potential Series 2027 issuance, noting the district’s debt capacity and homeowner impact estimates under different structures.
PMA Securities presenters described options for issuing non-referendum life-safety bonds and walked the board through estimates of capacity and taxpayer impact. Tammie Beckwith Schallmo, PMA managing director, said, "The District’s current debt capacity is nearly $13.9 million," and explained changes under Public Act 103-0591 that allow tax-capped districts to issue life-safety bonds under the Debt Service Extension Base framework.
PMA’s presentation included a preliminary Series 2027 timeline (board resolution in January, a BINA hearing in February, sale in mid-April and closing in early May) and sample homeowner impacts. Under one scenario the slide estimated an FY2024 bond levy payment on a $231,100 homeowner at about $114 annually. Board members did not take formal action at the meeting but were given direction to consider next steps and public-notice requirements should the board pursue a bond issue.
