D233 board gets 2.81% rate for $20 million bond sale

The District 233 school board got an exceptionally low rate of 2.8% to finance its $20 million bond sale to cover costs of a new science wing and other projects at Homewood-Flossmoor High School.

The sale to JP Morgan Chase was finalized Tuesday, June 28. 

The board initially planned to go the traditional route into the bond market, but on advice from financial advisor Bob Lewis of PMA Securities LLC, the board advertised for the sale of the bonds to banks. Four banks . . .

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