D-87 to issue $20M in bonds for facility projects
GLEN ELLYN – Glenbard High School District 87 will issue $20 million of bonds within the next year to accelerate projects identified in the district's Master Facility Plan.
The plan calls for about $100 million to be spent over 10 years on primary infrastructure improvements, as well as classroom renovations and additions designed to help students meet Common Core standards.
Of the $100 million necessary to implement the plan, $65 million will be funded by the district's Operations and Maintenance budget, which totals about $6.5 million each year, said Chris McClain, assistant superintendent for business services, in a previous interview with Glen Ellyn News. In order to provide available funding more quickly, the district will issue bonds to borrow $20 million that will be paid off using that budget.
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