“No tax hike” that really means—perhaps a continuation of referenda rates as if the new high school.bonds were never paid off
Belvidere School District planning $70 million for urgent maintenance without tax hike
Read the story at: Belvidere School District planning $70 million for urgent maintenance without tax hike | MyStateline | WTVO WQRF News, Weather and Sports
Here is all the planned borrowing which District 100 is thinking—the debt for the new high school will effectively be continued until 2064. Oh yesthe board is planning to issue the bonds without a voter referendum—so called back-door referenda
SUMMARY Note alternate bonds are paid from the sales tax. Coverage requirement necessitate an additional revenue to pledge as security. District Contribution of Funds on Hand...................................................................................………………………………………....…........................ $12,000,000 Life Safety Proceeds (2025)...................................………………………………………………………………………......................................... $20,820,313 Life Safety Proceeds (2026)..........................……………………………………………………………………….................................................. $17,913,907 Total Assigned Capital Funds for Phase 1 Projects............................……………………………………………………………………............... $50,734,220 DSEB and/or Life Safety Proceeds (2027)....................................………………………………………………………………………................. $27,910,000 Life Safety Proceeds (2028)..................................................………………………………………………………………………......................... $17,090,000 Alternate Bond Proceeds (2028).................................................……………………………………………………………………...…................ $25,000,000 Sub-Total Bond Proceeds for Phase 2 Projects.....................………………………………………………………………………........................ $70,000,000 Alternate Bond Proceeds (2030)................................................................’………………………………………………………………………... $30,000,000 Total Bond Proceeds for Phase 2 Projects....................................………………………………………………………………………............... $100,000,000 Total Project Funds.........................................................…………………………………………………………………….................…............. $150,734,220 Total Debt Service (Includes Series 2025) (1).............................……………………………………………………………………..........…....... $244,588,830 Final Year of Alternate Bond Debt Service..............................................………………………………………………………………………................... 2064 Estimated Annual Excess Sales Tax Revenues................................................……………………………………………………………….……….. $500,000 _______ (1) Rates based upon market conditions as of August 10, 2026 and recent bond sales which PMA believes to be accurate and reliable plus 0.25%. NOTE: Scenarios where a greater portion of the overall debt is issued in advance of the expenditures of the proceeds will
Regular Meeting of the Board of Education - Aug 17 2026 - Agenda – Pdf
Above is from District 100 August agenda page 99 SEE: Regular Meeting of the Board of Education - Aug 17 2026 - Agenda - Pdf
