Local Financing for School Bonds
•April 13, 2016• Sullivan schools moved to finance health life safety approved projects, issuing $2,140,400 in bonds from school funds and another $2,140,400 sold as general obligation bonds. Keeping it all in the district First Mid-Illinois Bank of Sullivan purchased the general obligation bonds at a 2.84 percent tax exempt rate. District financial advisor Tim King told board members at the April 11 meeting that rates were better than expected, enabling the school district a 14 year payback plan. By financing part of the HVAC and roofing projects for the elementary, middle school and high school with district funds, the … Read More
