Schools
District 112 Wants State Help to Pay For Middle School
More than $50 million in interest costs could be saved if bonds are granted.
HIGHLAND PARK, IL - North School District 112 has applied to the Illinois State Board of Education for $50 million in Qualified School Construction Bonds that could potentially save up to $53 million in interest costs as plans move forward to construct a middle school campus at the site of Red Oak and Sherwood elementary schools.
The bonds would partially pay for the construction of the middle school project, according to the Highland Park News. The $50 million amount is the maximum in which a district is allowed to request.
Other school districts are expected to apply for portions of a $495.5 million bonding limit the state has for school districts outside of Chicago, so the process could get competitive for 112.
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A $198 million reconfiguration referendum question will be on the ballot during the March 2016 election.
The reconfiguration plan will close six District schools and turn the three current middle schools into elementary schools as all fifth, sixth, seventh and eighth graders in the district would attend the middle school campus.
Find out what's happening in Highland Parkfor free with the latest updates from Patch.
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