D233 prepares for debt sale to banks reducing costs for $20 million initiative

The District 233 school board agreed to try a different approach on its $20 million borrowing plan that could save the district more than $2 million in costs. 

The board is planning to borrow the funds to cover the costs for constructing a new science wing onto the South Building at Homewood-Flossmoor High School and other building updates.

The district’s initial approach was to sell general obligation (GO) bonds, but financial advisor Bob Lewis of PMA Securities LLC said the district would likely get a lower interest rate by selling its debt on . . .

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