GCMS board considering its bond options
By Jean Noellsch
Wednesday May 21, 2008
GIBSON CITY – Halfway through paying off 20-year bonds, the Gibson City-Melvin-Sibley school board is considering its options and timelines for bond repayment or restructuring.
As the 10th year in the 20-year bond cycle, 2008 is the first possible year to consider a change. Board members heard about various scenarios Monday night from Kevin Hyde of First Midstate Corp. of Bloomington, which in 1998 issued $5.6 million in bonds to finance the GCMS Middle School.
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