Geneva school board might set tentative property tax levy
The Geneva school board meets at 7 tonight to consider setting the tentative 2013 property tax levy. The meeting is at Williamsburg Elementary School, 1812 Williamsburg Ave. The finance committee will also discuss the levy, at a meeting at 5:30 p.m.
Resident Dan Garrett, who ran unsuccessfully for school board in the spring, has asked permission to present a plan for dealing with the district's outstanding debt in a manner different from how the district does now. He is suggesting that the district use $30 million of its reserves to buy back bonds it issued in 2007. He projects that in doing so, the district could save $11 million in interest on its total outstanding debt. Garrett has worked as a municipal bond broker.
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