Kaneland School District 302 is moving forward with planned capital improvement projects after its school board recently approved the district issuing up to $38 million in bonds, according to a news release from the school district.
In the April 1 election, more than 55% of voters signaled support for the facility improvements at all campuses across the district by voting in favor of the district’s proposal to issue just over $140 million in general obligation bonds to fund them.
The funding generated by the $38 million bond sale will get the ball rolling on funding the projects, the release said, as well as refund some outstanding obligations.
The resolution approved by the school board also initiates the execution of an escrow agreement, the levy of a direct annual tax to repay the bonds and the approval of the sale of the bonds to the purchaser, officials said.
The district has previously said that the planned improvements will be focused on improving safety and accessibility, modernizing classrooms and upgrading infrastructure.
Kaneland has said it will be determining a construction timeline that will avoid disrupting student learning, making a project website, holding meetings for feedback and providing financial updates and sharing visual renovation progress.
“We are excited to take the next step in transforming our district’s facilities,” said Kaneland School District Superintendent Kurt Rohlwing in the release. “This bond issuance not only reflects the community’s support for our students and their educational environment but also positions us to manage our financial obligations responsibly.”
mmorrow@chicagotribune.com
