By Adam Studzinski
NORMAL – Unit 5 held a public hearing Wednesday night as the next step in the process of possibly taking out a near-zero interest bond.
The $18 million bond sale would help pay for life safety projects around the district. Finance Director Marty Hickman explained it’s up to the state to decide which districts are approved for these bonds.
“We hope to hear that yes or no on Feb. 10,” said Hickman. “We don’t know what our chances are. We heard from a few districts around about who has applied and who hasn’t, but we haven’t heard a total number from the state.
“We’re just assuming that many districts are like us. They have a need. They know this is a great thing for their taxpayers.”
Hickman added every school district outside of Chicago is eligible to apply for the bonds.
If approved, Unit 5 would likely payback the bond over a 20 year period.
Adam Studzinski can be reached at adam.studzinski@cumulus.com.
