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Meeting Date:
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Category:
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Type:
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Subject:
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Approval of a Resolution Amending the Tax Levy for the Payment of the General Obligation Limited Tax School Bonds, Series 2022 of Springfield School District No. 186, Sangamon County, Illinois |
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Strategic Plans:
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Enclosure:
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File Attachment:
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Summary:
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The General Obligation Limited School Refunding Bonds, Series 2022 were structured to allow for annual growth in the Debt Service Extension Base (DSEB) based upon the CPI each year. The bond documents filed with the County Clerk in February 2022 assumed a CPI increase of 3%. Now that we know that the 2023 CPI is 6.5%, this resolution informs the County Clerk to extend taxes for the debt service payments for the 2024 tax year to capture the growth in the DSEB. This resolution is to be filed annually to adjust for the change in the CPI each year.
This resolution must be adopted by the Board and filed with the County Clerk no later than February 29, 2024. |
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Funding:
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Resolution
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The Superintendent recommends adoption of the resolution amending the 2022 bond levy as attached. |
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Approvals:
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Recommended By: |
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Signed By: |
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Steve Miller - Director |
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Signed By: |
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Jennifer E. Gill - Superintendent |
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