The Bond County Community Unit 2 Board of Education has scheduled a public hearing on a proposal to issue up to $1.3 million in working cash bonds.
The hearing will be Monday, February 13 at 6:30 p.m. in the Office of Student Services Conference Room on North Hena Street in Greenville.
In January, the school board members passed a resolution, proposing to issue working cash bonds for the next two years of payments on the 2013 building bonds approved by voters.
Superintendent Wes Olson said the proposed action is in anticipation of the state legislature possibly approving the Property Tax Extension Limitation Law for every county, which would limit the amount of borrowing capability in the future.
Olson said issuance of the working cash bonds will not be used to subsidize the operational expenditures of the district. He said it is a matter of reallocating debt so if tax caps go into place the district is in better shape in the future.
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No official action on the bonds will be taken at the hearing.