Saturday, April 25, 2009

District #150 in Process of Issuing $38 Million Bond

As reported by Dave Haney in the JS, District #150 is in the process of issuing as much as $38 million in working cash bonds. Estimates put the interest rate at 5.7% over 15 years or an approximate cost to property tax payers of not $38 million but approximately $55 million. An owner of a home valued at $100,000 would be expected to pay and addition $76 annually.

When asked if the district coukld survive without the bonds, Interim Controller, Brock Butts, offered a firm, "I don't know."

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