July 2025 Bond Issuance
The District completed the second bond sale of referendum bonds on July 15, 2025. The timing, amount and structure of the bonds are consistent with the plan of finance presented to the Board of Education in October, 2024. The bonds are structured to ensure the district’s bond and interest tax rate is projected to remain at or below 37 cents for all future tax levies.
Moody’s investor services rated the bonds AA+, while S&P Global ratings rated the bonds AAA. The district became one of just 26 Illinois school districts to receive a AAA rating from S&P. The bonds were competitively bid and received strong interest in the municipal market, with eight underwriters bidding on the bonds. The true interest cost of the bonds is 4.35%, which was below the 4.45% estimate provided prior to the issuance. The bonds have a 20-year final maturity, with annual maturities ranging from $3.8 million to $18.9 million.
The $156.5 million dollar issuance represents the largest single bond issuance by a suburban Illinois school district in State history.
Board Parameters Resolution
Municipal Advisory Sale Summary
Official Statement
Moody's Investor Services Rating Letter
S&P Rating Letter
Continuing Disclosure Website