Bonds were issued seven years ago to help construct Belvidere North High School. The board made lower payments early on with the idea that more individuals would eventually move into the area and property values would increase.
However, neither occurred as planned, sticking the board higher bond payments with less people to pay for them.
By implementing the proposed sales tax, the estimated $2.2 million generated yearly could help increase revenue flow without increasing property taxes.
Read the entire story by clicking on the following: Belvidere School District to discuss possible sales tax increase - Rockford, IL - Rockford Register Star