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On June 20, the District 65 School Board approved the issuance of up to $12 million in general obligation bonds to fund capital projects, including building additions, renovations and repairs and technology. Among other things, the proceeds of the bonds will be used to pay the costs of an elevator at Willard School ($400,000) and roof and masonry work at a number of schools this summer ($562,000) that were approved by the Board on June 20. Mary Brown, chief financial officer, said the proceeds will also be available to pay the cost of the proposed construction and renovation at Lincoln School, estimated at about $7.4 million, if the Board decides to approve bids on that project.
Kim Weaver sugested at the Finance Committee meeting last week that the Board approve $12 million in a single bond issuance, rather than approve $4 million now and $8 million in October as proposed by the administration, in order to reduce the overall costs incurred in issuing the bonds.