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Home » News » Education

Champaign board starts process of issuing $15.5 million in bonds

Mon, 01/23/2012 - 9:55pm | Meg Dickinson, staff writer, News-Gazette.com

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CHAMPAIGN - The Champaign school board voted Monday to start the process of issuing up to $15.5 million into working cash bonds.

The money could be used to pay for a variety of building improvements, although board members are still deciding what those will be.

The working cash bonds could pay for improvements at the three middle schools - including new geothermal systems at Franklin and Jefferson Middle Schools - as well as wireless technology throughout the district, laptops for students and a new transportation facility.

Chief Operating Officer Gene Logas said $500,000 of that amount would include issuing and other fees. He said the board can decide not to go through with any of the projects on the list until the bonds are issued.

"You can pull the plug," Logas said, "for whatever reason, if you change your mind."

Once the board approves the process of issuing the bonds, it has three years to actually issue them, Logas said.

One project the board is still debating is whether to add a geothermal system to Franklin Middle School.

The school — as well as nearby Judah Christian — is a possible site for a new Central High School, and board members Jamar Brown and Tommy Lockman said they wanted more information about possibly building a school there.

The board Monday also narrowed its list of options for Central. It decided not to simply renovate Central and Centennial High Schools, and not to tear down Jefferson Middle School in order to expand Centennial High School to become one big 10th- through 12th-grade high school.

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Categories (3):News, Education, Politics and Government
Location (5):Champaign County, Champaign, Local, Bondville, Savoy
Tags (4):Champaign School Board, property taxes, Meg Dickinson, working cash bonds

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