The Examiner U-46 News Feed

U-46 Board poise to vote on bond issue, expenses

By Seth Hancock
  The Board of Education in School District U-46 is set to vote on a resolution authorizing the issuance of bonds not to exceed $62 million at an upcoming meeting.
  Additionally, the board will vote on expenditure items totaling $122,843 that were presented on Dec. 4.
  The bond issuance is part of the voter approved referendum allowing for the creation of new debt up to $179 million.
  The bond resolution, which sets the parameters, states that the bond will be dated “not later than June 18, 2024.”
  The principal payment would be between January 2025 to January 2037, with the first interest payment on July 1, 2024, levy years 2023 to 2035, maximum annual principal of $14 million, maximum annual debt service $15.5 million, a maximum interest rate of 6 percent, a minimum purchase price of 98 percent and a call date of Jan. 1, 2033.
  “Obviously, we’re selling bonds where an interest rate is high, and I know in the past we’ve refinanced to get lower rates,” said Sue Kerr, the board’s president. “Will we have to wait a number of years?”
  “Yes, that is the call date of 2033, so we’d have to wait 10 years,” said Ann Williams, deputy superintendent of operations.
  As for the expenditure items, the largest is $72,843 with Apple Inc. that will be paid for by the nation’s taxpayers through grant funds. It’s to purchase 100 iPads with Augmentative and Alternative Communication (AAC) tools for communicating with “students with speech and language challenges,” the proposal states.  
  “This proposal aims to purchase AAC devices and corresponding accessories for the district wide AAC department,” the proposal states. “The intent is to enhance the learning and communication experience of our students 3 through 22 years of age, empowering them with tools tailored to their unique needs.”
  Costing $50,000 (education fund), the district is seeking a contract with  Collaborative Leadership Consulting Group for bargaining facilitations.
  “In the school year 2023-2024, School District U-46 Administration, on behalf of the Board of Education, continues to bargain a successor agreement to the one-year extension with the Elgin Teachers Association (ETA),” the proposal states. “Facilitation of this work by the CLC Group provides support for creating structures, systems, culture, and communication practices to reach a successful collective bargaining agreement.”
  Editor’s note: The Examiner is aware that the U-46 School Board has chosen to utilize an optional Monday, Dec. 11 meeting to include votes on these items despite the proposals stating they would be voted upon on Dec. 18. A follow-up story will appear in next week’s editions of The Examiner to summarize the votes on the proposals.