Mundelein school district borrows $3.7 million for building projects
The Mundelein District 75 board has agreed to borrow up to $3.7 million by issuing bonds to pay for required upgrades and modifications at its four schools.
Because the work is all related to life safety work required by the state, the district can issue the bonds without going to referendum. How much or whether it will affect property tax bills is to be determined.
The district has restructured some debt and other debt will be retired in the next few years. Doing some of the work in house will lower the estimated cost and ultimately the amount that has to be borrowed, according to Superintendent Andy Henrikson.
Article Comments
Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked.
If a comment violates these standards or our terms of service, click the "flag" link in the lower-right corner of the comment box. To find our more, read our FAQ.