The District 205 School Board began the process of issuing $6 million in working cash fund bonds at last night’s meeting.
Today begins 30 days in which the issuance of the bonds could be petitioned by the public after which a Bond Insurance Notification Act hearing would take place, by statute at a different meeting in which the bonds were issued.
After the hearing the board may decide to authorize the bond sale.
The issuance would be a measure to protect the district from cash flow problems should Illinois not have a budget in the foreseeable future.
Superintendent Ralph Grimm also mentioned that he’s met with local bank representatives to see what could be done in terms of borrowing in early 2017 if the district has the need.
He also advertised for the meeting at Knoxville High School of all ROE 33 school districts, to discuss how a persisting impasse would effect them each uniquely.
What Grimm hopes the meeting will do…
“We just want to make people aware that this is happening and what that’s going to look like across ROE 33,” Grimm says. “We’re all different.”
In other business 1,100 Chromebook laptops were purchased for $174.50 a piece from Best Buy but with additional fees for the Google Chrome OS management system and a year extended warranted it’s closer to $256 per device.
Director for Finance and Operations Jennifer Bloyd-Hamm says they are being paid for out of the Title I fund but will be a part of FY17’s budget.
Also in the personnel report board members voted on recalling six teachers that had received Reduction in Force notices.
