Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Debt Financing topic
No spam. Unsubscribe anytime.
Skokie 68 announces intent to seek up to $6.125M in working-cash bonds; public hearing set Jan. 16
Summary
Board discussed a recommended working-cash bond option of up to $6,125,000 to support capital needs and announced a public hearing for Jan. 16; staff estimated a homeowner impact of roughly $45.27 annually for a $400,000 home.
District staff presented three options for working-cash financing and recommended an option that would utilize $6,125,000 of tax-exempt proceeds. The board heard historical context that the district has issued working-cash bonds since the early 1990s and typically repays those short-term borrowings in three to five years, a shorter cycle than many districts. The superintendent and finance staff explained that the item tonight was a resolution of intent and that a public hearing will be held at the Jan. 16 meeting with final bond parameters to be approved in February.
Staff described the homeowner impact as an example: "It would equal roughly $45.27 for the entire tax payment, which would be if 2 installments, $22.64 per installment payment," showing the district's effort to be transparent about local tax effects. Board members asked clarifying questions; district bond counsel and financial advisors were present to answer technical questions about terms and timing.
