District 123 Board of Education Considers Bond Restructuring Plan

During the September 12th board of education committee of the whole meeting the District 123 Board of Education discussed options for the restructuring of bonds issued in 2007 in an effort to responsibly manage some of the district’s debt. A presentation from the meeting can be found by clicking here.

The proposed restructuring of the debt would collectively save the taxpayers of Oak Lawn and Hometown $1.2 million over the next 10 years by taking advantage of historically low interest rates.

“We are continuously looking for additional ways to do the right thing on behalf of our students and the taxpayers of Oak Lawn and Hometown. Decisions like these help us remain true to our strategic direction and honor the resources the community provides. We are always striving to be good stewards of those resources,” said District 123 Superintendent, Dr. Paul Enderle.

While it may be difficult to spot the modest savings on your tax bill, the homeowner of a $200k home will save an average of approximately $14 per year during the next 10 years. The Board of Education will continue the discussion and possibly take action on the restructuring plan during the September 25, 2017 Board of Education meeting.

Members of the public are invited to attend and comment on the bond restructuring plan during the public comment portion of the regular business meeting on September 25, 2017. If members of the community have any specific questions they would like addressed during the meeting, please submit them in advance to Dr. Paul Enderle at penderle@d123.org.

“In District 123 our door is always open to the community. Feel free to contact us anytime with questions or for any further information,” commented District 123 Superintendent, Dr. Paul Enderle