Berkeley School District 87 Board of Education met April 27.
Here is the agenda provided by the board:
PUBLIC NOTICE IS HEREBY GIVEN that School District Number 87, Cook County, Illinois (the “District”), will hold a public hearing on the 27th day of April, 2020, at 7:00 o'clock P.M. The hearing will be held at the Administration Center, 1200 North Wolf Road, Berkeley, Illinois. The purpose of the hearing will be to receive public comments on the proposal to sell bonds (the “Bonds”) in the amount of $105,000,000 for the purpose of building and equipping a school building to replace the Sunnyside Intermediate and MacArthur Middle School Buildings, building and equipping additions to and altering, repairing and equipping the Riley Intermediate and Northlake Middle School Buildings, altering, repairing and equipping the Whittier Primary and Jefferson Primary School Buildings, improving sites, renovating instructional spaces, providing STEM (science, technology, engineering and math) labs and constructing life safety, security and infrastructure improvements.
The Bonds are estimated to be outstanding for 22 years. The total debt service to be paid on the Bonds, including principal, interest and costs of issuing the Bonds, is estimated to be $152,789,842. The average annual property tax needed to pay the principal of and interest on the Bonds extendable against property containing a single-family residence and having a fair market value of $100,000 (without regard to any homestead exemptions) is estimated to be $337.
The actual number of years during which the Bonds will be outstanding, the actual total debt service to be paid on the Bonds and the actual average annual property tax to pay the principal of and interest on the Bonds extendable against property containing a single family residence and having a fair market value of $100,000 (without regard to any homestead exemptions) are subject to change based on many factors, including market conditions at the time the Bonds are sold. Any differences between the information set forth herein and the actual results at the time the Bonds are sold shall not invalidate the hearing or the results of the referendum for the Bonds.
By order of the President of the Board of Education of School District Number 87, Cook County, Illinois.
https://www.berkeley87.org/UserFiles/Servers/Server_389410/File/About/Board%20of%20Ed/Posting-New.docx.pdf
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