Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Debt Service topic
No spam. Unsubscribe anytime.
District packet includes resolution to levy supplemental taxes to cover Series 2022 bond debt
Summary
Board packet contains a resolution authorizing supplemental tax levies for the Series 2022 limited bonds and Exhibit A showing year-by-year debt service and supplemental amounts for 2024–2031; the packet includes filing and certification templates but no recorded adoption.
The Nov. 7 packet includes a draft resolution authorizing supplemental tax levies to pay principal and interest on Prospect Heights School District 23’s General Obligation Limited Tax School Bonds, Series 2022.
The resolution text directs that "the District does hereby levy for each of the years 2024 to 2031, inclusive, the supplemental amounts set forth in Column (C) of Exhibit A," and instructs the Board Secretary to file a certified copy with the Cook County Clerk and the School Treasurer (unattributed quotation from the resolution text in the packet). Exhibit A lists the debt service due and the supplemental amounts by levy year; for 2024 the schedule shows debt service of $185,434 and a supplemental levy of $38,883.95 to produce the full $185,434 total listed for that year (SEG 132–147).
The resolution cites authority under the School Code and the Local Government Debt Reform Act and explains that the supplemental levy is allowed where the principal and interest due on the bonds exceed taxes levied in the original bond resolution; it sets the supplemental amounts for each levy year 2024–2031 (SEG 050–090, SEG 100–106). The packet includes certification and filing templates for the County Clerk, Board Secretary and School Treasurer but does not record a board vote adopting the resolution on Nov. 7.
