Washington School Bond Issue Timeline

Voters responded with a 61.7% show of support to build a new Washington School. The current facility is in need of extensive repairs and life-safety work. Construction will begin in June of 2021, with an estimated completion date of June 2023. Learning will continue in the currentt facility through the duration of construction. The estimated cost of the project will not exceed $30 million, and the District will issue bonds to fund it. Investment of the bond proceeds has tentatively been scheduled for August 13th, 2020.         

Superintendent of Schools, Dr. Kimberly Boryszewski worked with local and state government representatives this spring to present Senate BIll 1937, approving District 81's debt limit extension. The governor signed the bill in late June, allowing planning to begin in earnest. Because of the current bond market conditions, the District was able to structure the bonds to be paid off 4 years earlier than anticipated (now 23 years instead of 27 years), which results in an interest savings over the duration of the bonds of roughly $4.3 million. The District will share plans and updates on the Washington School section of the website and on the Schiller Park School District 81 Facebook page. Preliminary plans and financials can be found on the website now. Please click on the link below for a bond issuance timeline. 

Bond Issue Timeline Infographic