D.158 approves $3.3 million bond issuance

2014-02-24T00:00:00Z D.158 approves $3.3 million bond issuanceDavid P. Funk Times Correspondent nwitimes.com
February 24, 2014 12:00 am  • 

LANSING | School District 158 officials approved a resolution last week to issue up to $3.3 million in funding bonds for school improvements.

Last month, the district purchased debt certificates from Wintrust Financial Corp. in the amount of $3.01 millionĀ for capital improvements at Reavis Elementary. The certificates created a claim so the board could issue the funding bonds, Business Manager Mark Crotty said.

The bonds will be sold to repay Wintrust, Crotty said.

Crotty said the bonds could be issued in March and the district could have the money by April.

Crotty said the district will hold a Bond Issuance Notification Act public hearing next month. Residents and stakeholders will be allowed to voice their opinions in regards to the issuing of bonds.

In other District 158 news, Superintendent Cecilia Heiberger said school cancellations will require an extension to the school year.

Graduation will be moved from May 22 to May 29. The last day of school will be June 5. These dates won't become final until the March School Board meeting to allow for the possibility of more snow days, Heiberger said.

The Illinois State Board of Education requires 176 days of pupil attendance.

Heiberger also said snow has made parking at district schools difficult. She said Lansing authorities have been issuing tickets to cars parked illegally.

She said the pick up/drop off areas at some schools are being reviewed to make things easier for parents in regards to congestion on Ridge Road.

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