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Financial advisor recommends $7M life-safety bond issuance May 1, 2026; estimates $137 yearly tax impact on a $350,000 home
Summary
Elizabeth Hennessy (Raymond James) presented options under Public Act 103-0591 and recommended a $7M bond issuance with a 10-year term to fund life-safety projects; she reported about $1.1M currently available in the life safety fund and estimated an annual tax impact of roughly $137 on a $350,000 home.
Elizabeth Hennessy of Raymond James reviewed municipal market conditions and the implications of Public Act 103-0591, which the meeting record says removed life safety bonds from DSEB limitations for tax-capped districts. She told the subcommittee the district currently has "approximately $1.1M available in the life safety fund" and identified additional needs of about $3M for Edison (Summer 2026) and $4M for Madison/Lincoln (Summer 2027).
Hennessy recommended issuing $7M on May 1, 2026 with a 10-year repayment term, citing possible savings in issuance costs and an ability to offset modest interest expense through investment earnings. She provided an estimated tax impact of approximately $137 annually on a $350,000 home. The subcommittee was told that to move forward the Board would need a public hearing on Feb. 17 and a potential bond resolution on March 17, both contingent on ISBE approval of the Life Safety Plan.
