Community Unit School District 308 board members have taken their final step allowing the district to borrow up to $14.1 million.
Officials in the Oswego-based district have said the money would go toward building upgrades and technology. Board member Greg O’Neil, who has vocally opposed the measure, was the only member to vote against the move.
A district financial advisor said though the district is authorized to issue up to $14.1 million, he expected it would actually issue around $13 million.
The authorization came in a move sometimes known as a backdoor referendum. Board members publicized their intention to sell bonds and held a public hearing. Residents had 30 days to gain a certain number of signatures on petitions to force a referendum.
Ali Mehanti, assistant superintendent of business services and operations, said the district did not receive one petition.
The proposal comes after board members approved refinancing bonds, which was designed to lower residents’ taxes in phases and avoid a future spike in debt payments. The new borrowing will maintain the district’s debt levy close to the same level it was at last year, during the first year of the bond restructuring plan, and nearly $3 million more than it was projected to be in future years.
The district is facing millions of dollars in projected budget gaps and work that officials said is long overdue. Officials have said the borrowed money could cover maintenance work, surveillance cameras and alarms, technology that is at the end of its life and other work. It could also cover work related to an already-approved plan to relocate kindergarten students to their home schools and move preschool and some special education programs into new buildings.
In response to a board member’s question, Mehanti said absent an old unpaid state grant, the district doesn’t “have any other way” to pay those expenses. Superintendent John Sparlin, also in response to a board member’s question, said the items that would be covered by the bond money are necessary for students’ success.
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