In a slight change to finance plans following the $420 million referendum two years ago in Indian Prairie School District 204, the district has voted to authorize the sale of $15 million in bonds this year.
Taking out $15 million in loans now will decrease the amount the district plans to borrow during remaining issuances scheduled for 2027 and 2029, and will not increase the total from the $420 million voters approved, said Matt Shipley, chief school business official, at Monday’s school board meeting.
“The bonds are structured so that there will not be a tax rate increase resulting from the issuance of these bonds,” Shipley said.
Increasing total bonds issued to $185 million
The district plans to kick off another $100 million in safety, security and infrastructure improvements in 2027 — adding to the $198 million of work already complete or in progress, Shipley told school board members this fall.
“Issuing the bonds at this time will allow us to accelerate our capital work plan and provide our schools with the benefits of this work sooner,” Shipley said.
As the third bond issuance after what the district calls the “Safer, Stronger 204” referendum, the $15 million to be sold soon will increase the total amount of loans taken out to $185.6 million. Previously, the district borrowed $14.1 million in December 2024 and $156.5 million in July 2025.
‘Speeding up’ savings and capital projects
School board members didn’t question the minor modification to the timeline for issuing more referendum-authorized bonds. They unanimously approved a resolution that gives Shipley permission to conduct the bond sale at any time during the next six months.
Working with a financial advisor for the district, Shipley said he will monitor market conditions to determine the most favorable time for the sale.
“Speeding up efforts to bring in savings and accelerate our capital program is always a good thing,” school board President Laurie Donahue said.
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